Jesse's Café Américain: Ghost of Bubbles Past: Let's Play a Game

For the mystery of lawlessness is already at work. And the name of the lawless one will be revealed. Not everyone who calls to me saying, ‘Lord, Lord,’ will enter the kingdom of heaven, but only the ones who do the will of my Father. Many will say, ‘Lord, did we not prophesy in your name? Did we not drive out demons in your name? Did we not do mighty deeds in your name?’ Then I will declare to them solemnly, ‘I never knew you. Depart from me, you servants of lawlessness.'
Matthew 7:21-23

03 February 2008

Ghost of Bubbles Past: Let's Play a Game

All things one has forgotten, scream for help in dreams.
Elias Canetti, Die Provinz der Menschen

Mr. Wall Street Says: Don't worry, the Fed's got your back!

Let's play a game.

This is the alternative to a 'crash' which is a two year grinding bear market. The classic example is 1973-74 but since we did not have good numerical data we decided to use the bear market most recent, 2000-2002, that everyone seems to overlook. The SP took a top to trough haircut of 47%!