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NY Times says: "Crisis Looming in the Mortgage Industry" (I say…YOU THINK)…AND …Seventh Anniversary of the Nasdaq POP!

Today Wallstrip takes you to the beach.

This Saturday marked the 7th Anniversary of Nasdaq peak of 5,048.62. Wired remembers .

Seems like yesterday if you have been involved in the subprime lending stocks. Love this NY Times piece, a must read .

The homebuilders are all down 50 plus percent as well.

Last year the Saudi Market crashed in the course of a week and this year China suffered a quick 15-20 percent drop.

One consistent theme has been the doomsayers. When the (FILL IN YOUR CHOICE) market blows, we are doomed financially.

I guess we will just have to wait for the derivatives implosion :) .

Guess what – it will happen and the markets will survive.

In the end, if you trust the average stock analyst, broker and talking head you are doomed to underperform.

If you respect diversification, margin and leverage and buy great brands and growth companies on sale or just consistently, you will profit over the long run.

  • http://www.andyswan.com Andy Swan

    I’m bearish on bearishness

  • http://tradermike.net Michael

    your NY Times link goes to the Halliburton story, not the mortgage story

  • Howard Lindzon

    thanks mike – added a better link but the ny times article now behind a wall. sorry

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