Friday, October 10, 2008

Remember the Seventies (part 2)

It cracks me up when twentysomething financial journalists ask whether the despair at the bottom of the recent sell-off means that the bear market is over. Hardly. When people are so sick of stocks that nobody wonders whether the bear market is over, when the thought of owning a stock sends people running to the toilet in nauseated revulsion -- that's when it will be over.

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