At the time of writing my January 21st blog advising of Peter Bernstein's 90th birthday I also sent an email to the Editor of the Financial Times drawing attention to the great man's anniversary and suggesting that they get him to write something on the present economic situation.
The FT did not reply,there was nothing to reply to I suppose, but in today's issue there is indeed an article by Peter making the point that the long run is a misleading guide to investors, in his view it has always beentoo unknown for it to have any value and that its demise is to be welcomed because it will always be an impenetrable mystery.
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