If you're, not readings the articles at Professor Piggington's, you are really missing out. The data and analysis found there are top notch. Check out his entry regarding The FED's Poole's dismissal of the housing bubble (What bubble?... right?) titled "Drink the Poole-Aid".
P.S. make sure to read the comments...trust me.
posted by InfidelSix @ 2:36 PM
2 comments
2 Comments:
That's good stuff. I don't understand it 100%, but I can appreciate the scientific skepticism. I love the tagline to the blog: "In God we trust. Everyone else bring data."
Yeah, one of the commentors noted the following:
Jeremy Grantham, founder of Grantham Mayo Van Oterloo (which manages about $80 billion in assets), noted in a recent research piece (in so many words), "Unlike the Federal Reserve, I have no problem whatsoever identifying a bubble: a bubble occurs whenever an asset group's prices move more than two standard deviations from that asset's long-term mean trend line. By that measure, we have had 29 asset bubbles globally since World War II. 27 of the 29 ultimately reverted to below-trend prices. The two that didn't are the U.S. stock market bubble and the global property bubble which we are currently witnessing. History suggests they will... eventually."
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