It shouldn't have been so inconceivable — there were bigger rallies during the Great Depression, after all. That secular bear market still lingered on until about 1950 though. I suspect we've still got another 6-10 years in the current secular bear, which started back in 2000. I think anyone who is running a long-only, un-hedged portfolio today is going to come to grief when the Fed starts mopping up the easy money.

On a completely different topic, have you ever been to Mamoun's Falafel? Went there a few hours ago. Not bad. There's a place in Teaneck, NJ with better falafel though, IMO — it's called E.J.'s. I don't go often though, because it's sort of a pain in the ass to get to from me.

It shouldn’t have been so inconceivable — there were bigger rallies during the Great Depression, after all. That secular bear market still lingered on until about 1950 though. I suspect we’ve still got another 6-10 years in the current secular bear, which started back in 2000. I think anyone who is running a long-only, un-hedged portfolio today is going to come to grief when the Fed starts mopping up the easy money.

On a completely different topic, have you ever been to Mamoun’s Falafel? Went there a few hours ago. Not bad. There’s a place in Teaneck, NJ with better falafel though, IMO — it’s called E.J.’s. I don’t go often though, because it’s sort of a pain in the ass to get to from me.

Much good health and prosperity for 2010.

BTW: (I wear my DataJunkies T-shirt to the gym every week, but the chicks still don't love me. ;(

Much good health and prosperity for 2010.

BTW: (I wear my DataJunkies T-shirt to the gym every week, but the chicks still don’t love me. ;(