It may seem odd, but it’s only just occurring to me just how badly the market got wiped out, particularly on Friday I had sort of been taking it stride, but the abundance of “I turned $500 into $17,000” posts in /wsb made it dawn on me that, yeah, trillions of dollars of market cap have been destroyed in just days. I wonder, however, if this is just the umpteenth “lower high” in the VIX, and we’ll be subject to yet another multi-month “recovery” which is oh-so-boring compared to the blast we’ve been enjoying lately.
