In The Right Lessons and The Wrong Lessons, I said the right lessons from the recession and the bear market are “so simple they don’t need any further explanation.” A reader Mark suggested that I shouldn’t be so dismissive. “If you tell him/her it’s so simple that he should be ashamed of himself for failing […]
A Tale of Two Charts
The S&P/Case-Shiller Home Price Indices came out for February 2008. They showed a year-over-year decline for most cities. The announcement from Standard & Poor’s came with the following chart: The plunge is quite impressive, isn’t it? Now look at this second chart. What do you see? A long rise followed by a small drop. The […]