Stevenson on "Six Takeaways from the Crash of 2008"

Tom Stevenson writes in the Daily Telegraph that with so much lost financially this year, we should gain some knowledge in return.

Food for thought, the whole thing, which ends with this:

The arrest of Bernard Madoff has provided a suitably banal and grubby end to a year in which the scales fell from our eyes. But if a few more people believe that when something looks too good to be true it probably is, invest in what they can see and understand, save for the future and spend only what they can afford, 2008 could really be one to tell our grandchildren about. The year we came to our senses.

Let's hope so.

Comments

[Alan]

Just imagine this : if the stock market hasn't fallen that much, Madoff might continue for years before being caught.

[CONTROLLED GREED.com]

Alan: True, it seems these kinds of scandals usually don't pop up during the boom periods.