The Orange Swan Cometh, Part 1

Well, the stock market was priced for perfection. The S&P 500, for example, was trading at 18.4X reported earnings. So it might well be asked whether there was any headroom left for something to go wrong in the world? There was not. We know that because we are referring here to the S&P index at 1565 way back on October 9, 2007, which […]
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