This Noah Smith guy is a complete "ASS HAT". This is his: Update: I showed this post to a few friends in the finance industry, and while all of them agreed, one came up with by far the best one-line response: "Retail investor is retail."
#1. The $SPX is down over the last 12 years. How many Wall St. firms called the 07/08 crash?
#2. The problems of 07/08 centered on the entire Wall St. community with their MBA/PHD "ASS HATS" like NS betting the housing market never goes down by more than 5%!
In my 18 years in financial services, I've never seen a better site for financial information of what's really happening that the MS financial media would never cover. There have been numerous times this year when ZH has done articles on news the financial media and Wall St. have not covered until it goes up on ZH.
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