In every major economic downturn in US history, the villains have been the heroes during the preceding boom – Peter Drucker
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Sounds good but is it true? Bankers were villains in ‘08. Heroes in late 90s? Worldcom, Enron, and AA were villains in 02. Heroes in 80s? Don’t think so. Real estate was villain in 92. Hero in early 70s? With inflation might make sense. This line sounds better than it is.
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I think he refers to the immediately preceding boom. The fall from grace for all the cases you mention was precipitous.
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Works in 2 out of last 3. Not sure the tech bubble guys became villains.
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