Tuesday, June 29, 2010

Allow Me to Be the First to Say


Of course, there's a bit of bias in pointing this out. Rallies tend to happen over days or weeks, and thus are much less dramatic than the sense of doom created by sell-offs. I think the main point to take away from such events is that markets don't know jack about the future. If they did, big market-wide one-day moves wouldn't happen.

Update: Beat Atrios this time.

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