- The Find: When it comes to the stock market, many commentators have struck a reassuring tone arguing that historically the market always goes back up, but Mark Cuban recently used his blog to suggest that this crisis may be something new under the sun.
- The Source: Blog Maverick written by billionaire Cuban, owner of the Dallas Mavericks and Chairman of HDNet.
- At no other time has there been 17,000 mutual funds and more than 10,000 hedge funds all competing with each other to make money off of your money.
- At no other time in the history of this country did savings fall as far below zero percent of income.
- At no other time in the history of this country were net effective interest rates as far below zero.
- At no other time have the words 'blue chip' completely lost their meaning.
- At no other time has the money of consumers been so portable between hedge funds and mutual funds, which means that at no other time have mutual funds and hedge funds been so susceptible to redemption runs.
- At no other time have there been three financial news networks and thousands of websites providing so much financial information and opinion - the sum of which has lead us to suffer 'Paralysis by Bullshitalysis.'
Fans of Cuban may want to check out his new site BailoutSleuth, which is dedicated to monitoring the bail-out of financial institutions.
The Question: Cuban's post went live last week; since then the Dow has risen modestly. Is the market already proving him wrong?