In comments, John rescues the honor of Princeton's Burton Malkiel by pointing out where Kevin Hassett and James Glassman's claim that Malkiel had called their book "a well-written treatise that cannot be dismissed..." actually came from:
When Allan Meltzer Ceased Being a Real Economist...: John said...
Thanks for posting that photo. I am getting a kick out of reading those blurbs and the use of ellipses.
Burton Malkiel's blurb says: "Dow 36,000 is a provocative and well-written treatise that cannot be dismissed...."
What Burton Malkiel actually said: "Dow 36,000 is a provocative and well-written treatise that cannot be dismissed as easily as many of its critics have suggested. But what is at stake here is much more important than a debate among economists. This is a book with the goal of giving investment advice. For this reason I believe Dow 36,000 is a dangerous book that may lead some investors who can ill afford the significant risks of equity investments to throw caution to the wind."