In his recent book, Ed Yardeni clears up confusion — and ideologues’ deceptions — about corporate profits.

In Praise of Profits!, by Edward Yardeni (YRI Press, 234 pp., $15.99)

NRPLUS MEMBER ARTICLE F or more than four decades, Ed Yardeni has been one of the most respected economists and investment strategists on Wall Street. In the early 1980s, Yardeni, serving as the chief economist at Prudential-Bache Securities, partnered with his colleague, strategist Greg Smith, to tell “the greatest financial story ever told,” predicting that the equities markets would see participation and investment levels never before imagined, as the Baby Boomers entered their prime earning years. That bold and profoundly important call, along with countless others over the decades, was driven by Yardeni’s


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