Old Hussman
September 25, 2008 8:35 pm by Dean Morel
Similarly, market bottoms are created because investors stop looking for a bottom, and extrapolate ongoing bad news. If you remember the lows of 1982, or 1990-1991, or 2002, you’ll recall that in each instance, the question among investors wasn’t whether the economy would recover in one quarter versus two quarters. The question was how the economy could recover at any point in the foreseeable future. Investors give up hope at bottoms.
Have you given up?
nah, me either. That should concern anyone on margin.
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