I’ve posted Podcast #165 to the “RobCasts” section of the site. It’s called I Was Wrong: There’s An Economic Reason Why We’ll See Another Stock Crash.
When prices fall from insanely overvalued to fair value, many businesses are destroyed. That forces prices down to insanely <i>undervalued</i> levels for a time. This process takes time. It may take years for us to complete it. It is not realistic to expect a recovery from decades of the promotion of Passive Investing to be completed with one price crash.
Sorry Rob I think you’re wrong. The world has changed, and people are getting P-A-I-D again this year!
$734,000 per Goldman Sachs employee for 2009 anybody? Not bad! That doesn’t happen unless it’s a bull market, which we are clearly in.
Ask me to put new money in the market now? That’s a different question. But earnings are coming back strong!
Thanks for offering a different viewpoint, Financial Samurai. It’s boring always hearing that same old fellow go on and on.
Rob
Rob,
Jobs are supposed to return in 2012.
Have fun.
John Walter Russell