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Why we should remember Jon Lovelace

Last September, when the financial markets seemingly crashed overnight, I joined many others in believing and feeling that we were living through an historical moment few would soon forget. Sadly, what we also felt was a sudden, massive and collective loss of confidence in the financial system.

During this traumatic period, when Lehman Brothers went bankrupt, AIG was saved from bankruptcy and Congress stepped in with the biggest and most unprecedented bailout of the financial industry in American history, I thought often of Jonathan Bell Lovelace, a legendary investor who turned out to be a wise prophet about the financial folly of his times.

Lovelace, who lived from 1895 to 1979, is not well known in popular history, but as we pass the 80th anniversary of the Great Crash of 1929, he remains an investing legend for practicing what he preached -- wise investing based on rigorous research and embracing strong fundamentals of valuation   Read Full Article...