Not according to this chart: How do you explain the Dow (and SPX and Nasdaq) lagging behind the peak in Housing and Banking?
Chart via WSJ
Its just another example of misplaced faith and deification of equity markets. So much for the wisdom of crowds . . .
From Bubble to Depression?
STEVEN GJERSTAD and VERNON L. SMITH
WSJ, APRIL 6, 2009
What's been said:Discussions found on the web: