Here are the best things I read and thought about today -
- "Have the record number of investors in the stock market lost their minds?" asks The New Yorker, given how investors appear persuaded that the markets are headed for a "V"-shaped recovery even as history suggests a more complicated story:
Stocks don't always rebound in a "V" shape. During the last lengthy bear market, which accompanied the Great Recession, stocks prices started falling in September, 2007, and didn't bottom out until February, 2009, seventeen months later. During the Great Depression, in the