I’ve posted Entry #23 to my weekly Investing: The New Rules column at the Death by 1,000 Papercuts site. The title is The Free Market Is At Risk.
Juicy Excerpt: This is not a crisis the like of which we have seen before (the Great Depression is the only comparable situation in our history and this crisis has the potential to be worse). What’s different is that the level of stock overvaluation that we saw in the late 1990s was unprecedented. We are today sailing in completely uncharted waters.