Relevant:
- Just a Bit Too Early to Follow Wall Street’s Playbook
- Doug Noland: Weekly Commentary: "Unassailable" (Market Bubble)
- Sprott on Silver Valuation and Projections
- Dodd seeks difficult consensus on financial rules
- San Francisco and tech driven housing mania: The median home in San Francisco reaches a new high of $1.5M
2009-05-26 — ritholtz.com
"Why should investors — or homeowners, for that matter — care much about the opinion representing the consensus view? That consensus missed the credit bubble as it formed, wrongly believed the sub-prime issue were “contained,†and utterly missed the top in housing. If you followed th consensus, o lost 50% of yuor money last year, saw your home value drop 30%, and generally got mangled in most asset classes other than Bonds, Cash and Gold."
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