Early Speculative Bubbles (LFB)

The housing bubble began in 2001 and exploded in 2008. But look around today, fully five years later, and the victims are everywhere, even in your own town or neighborhood. People who bought at the top, convinced that they would win this game, were left feeling like chumps. Meanwhile, many people who bought at the bottom and sold came away feeling like geniuses.

Is this the way markets are supposed to work? Is it really just an unrelenting series of bubbles and explosions? History is dotted ...