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I still give the Economist huge credit for releasing this cover image in 2005: http://www.tradersnarrative.com/wp-content/uploads/2008/03/after%20the%20fall%20h
by drcode 13y ago
I still give the Economist huge credit for releasing this cover image in 2005: http://www.tradersnarrative.com/wp-content/uploads/2008/03/after%20the%20fall%20house%20prices%20economist%20magazine%202005.png http://www.tradersnarrative.com/wp-content/uploads/2008/03/a...
That was arguably the most unambiguous and accurate prediction on the cover of a magazine, ever.
I remember the lady next to me on an airplane telling me she was just getting heavily into a house flipping business. I happened to have that issue of the Economist with me to read on the plane. I showed her the cover and said "But what about this?"
(I wonder what happened to her business...)
- r0h1n 13y agoI don't doubt their 'smarts' (I've been a reader/subscriber for nearly a decade). But when it comes to Internet/e-commerce/cloud, I've rarely ever found them as cutting edge. Of course their tech special reports are always a great read, but the focus there is mostly deeper, cutting-edge science/R&D etc.
- frandroid 13y agoEveryone with some financial literacy knew that the housing market was a bubble, the Economist wasn't exactly an oracle.
- drcode 13y agoYes, many smart people saw the writing on the wall, but pretty much all other magazines had covers like this at that time: http://www.tradersnarrative.com/wp-content/uploads/2008/03/home%20sweet%20home%20time%20magazine%20cover.png http://www.tradersnarrative.com/wp-content/uploads/2008/03/h...
- nkoren 13y agoThat cover story is what caused me to pivot my career away from architecture, as it was clear that architects would be absolutely hammered by the inevitable crash. (And they were; architecture as a whole suffered more job losses than any other industry). By the time the crash was bottoming out, I had a brand-new degree and job in the driverless vehicle industry. So, yes, it pays to read The Economist closely.