uh-oh: Time Magazine on Housing
Is this the Magazine Indicator at work?
We've seen some terrific Contrary market calls from magazine covers: Time magazine naming Jeff Bezos man of the year in December 1999 marked the top of the internet bubble; The March 21st 2005 Newsweek cover story, "The Incredible Shrinking Dollar," marked a key contrarian turning point in the greenback's fortunes. (The dollar has rallied 7% versus the euro and 2% against the yen since then).
Will the June 13th issue of Time magazine, with its giddy "Home Sweet Home" cover about the real estate market, prove to be similarly prescient? Stay tuned . . .
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Tracked on Jun 7, 2005 7:39:16 AM
Time magazine seems to be the King of the Magazine Cover Effect. When it makes the cover of Time, it's over.
Note that the cover isn't "Watch out for that bubble!" It's "Your house is making you rich! Yay, real estate!"
I'm going to keep renting.
Posted by: seamus | Jun 7, 2005 1:35:22 AM
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