Time Cover: Soup Lines

October 8, 2008 2:00pm by Barry Ritholtz

A few caveats with contrary indicators such as below:

First, they are quite imprecise in terms of time. Recall the August 13, 1979 BusinessWeek Death of Equities cover — it wasn’t THE low, but it was 12 years into a Bear market, and a respectable entry point that was retested a few years later. (The true breakout was 1982). Same with Jeff Bezos as Time’s 2000 Man of the Year — the market still had months and 1,000s of points to go.

But this tells us we are closer to the bottom then the top — even if its only a trading low.

Hat tip Kid Lane

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