William J. Bernstein, an American financial theorist, is the author of The Intelligent Asset Allocator and The Four Pillars of Investing: Lessons for Building a Winning Portfolio.
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Adam Smith wrote that man has an intrinsic 'propensity to truck, barter, and exchange one thing for another.' But how did trade evolve to the point where we don't think twice about biting into an apple from the other side of the world? In A Splendid Exc... SEE MORE