It takes a long time for a tanker to turn, as will the real estate market. I too am encouraged by the haste we have seen in the downturn, but I think it is just the tip of the iceberg. As for the dow, let’s not forget that inflation adjusted, the dow is FAR from its all time high, and that the dow 30 stocks have been changed twice since 2000. Here is a good article by Eric Jansen from iTulip on the recent dow action.
