Investors have too often extrapolated from recent experience. In the 1950s, who but the most rampant optimist would have dreamt that over the next fifty years the real return on equities would be 9% per year? Yet this is what happened in the U.S. stock market. The optimists triumphed. However,...

Verlagsinfo: Eli Lilly's long life entended over a wide range of endeavors in which he made major contributions. Under his active leadership, the pharmaceutical company he joined in 1907 evolved into one of America's most successful big businesses Although a hard-working businessman, Lilly...