Edward - nice chart but maybe not quite as relevant as it appears? Things move so much more quickly than they used to in the old days. What used to take weeks to get disseminated & have an effect when I started in this business now takes seconds and as a result, markets move in a fraction of the time. Perhaps someone could do a study so that we can compare apples with apples.

Sorry for the delay in response, Stevie. You're right about the speed of this decline. No one can accuse me of being a doe-eyed optimist and even I have been caught off guard by the speed of the decline.


I don't know how you could make this an apples to apples comparison given that.



That said, it is strange that we have not seen more major house builder bankruptcies in this environment. In the U.S., the U.K. and Spain, I would expect to hear more from house builders than we have done.



Maybe that's a silver lining here.

How This Bear Market Compares http://tinyurl.com/7z2et2