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Interesting - how did you see the 2008 crash coming? I saw nothing. (Note I'm from Germany, so many local US indicators may have escaped me) I did totally see
by ahartmetz 8y ago
Interesting - how did you see the 2008 crash coming? I saw nothing. (Note I'm from Germany, so many local US indicators may have escaped me)
I did totally see the 2001 crash coming (though not its exact time and large magnitude - just like everybody else, I guess?) - ludicrous business models had mountains of cash thrown after them... it was very obviously a hysteria.
- pjmorris 8y agoIn 2005 I received a postcard from my former next door neighbor, a realtor, offering a townhouse in our old neighborhood in South Florida for $300,000. I couldn't believe it: they'd been $100,000 when they were built, six years before. I'd bought mine for $140,000 in 2001 (much to the doubt and disbelief of my neighbors at the time, thinking it too much to pay.) When the advertised townhouse sold for $300,000, I started to ask 'Where did all this money come from?' I read voraciously, came to the same big picture conclusions that the people in 'The Big Short' did (I recommend both the book and the movie, at your preference), but didn't learn to make money off of it the way they did.