I’ve posted Entry #464 to my weekly Valuation-Informed Indexing column at the Value Walk site. It’s called It Is Not Possible to Make Sense of Stock Crashes.
Juicy Excerpt: Stock prices crash from time to time. Everyone gets this. It’s such a widely appreciated reality that we have come to accept it as normal. I don’t think we should. I view the phenomenon of the stock crash as a very strange reality. I think that it is a reality that we need to understand better. It is my belief that, if we came to understand stock crashes better, we would not see so many of them.
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