Warning to Vilas Park skaters. Or should it be directed at Wall Street investors?
Thin ice is dangerous because it offers the illusion of solidity. It looks as if you could just step out and glide forever. This week, Wall Street demonstrated (once again) that the idea that we're anywhere near a stable floor in the stock market is just as illusory, and that relying on the recent past in today's market can be as treacherous as skating on thin ice.