A Bond Market Meme, Revisited
The lesson: Don't try to time the market. My own asset allocation remains 60 percent stocks, 40 percent bonds, with wide diversification in each category.
Random Observations for Students of Economics
I am a professor and chairman of the economics department at Harvard University, where I teach introductory economics (ec 10). I use this blog to keep in touch with my current and former students. Teachers and students at other schools, as well as others interested in economic issues, are welcome to use this resource.