Hi Michael -

Thank you for taking the time to answer my question.

Please allow me to share my viewpoint in light of your concluding words.

You say "No single event made it happen. Events compound to create the trend."

In subscribing to Chaos Theory, I believe that any single event can indeed cause the beginning of a trend.

Are you familiar with the "Butterfly Effect?"

Briefly, it goes something like this: a butterfly in China can cause air movements that can eventually turn into a storm in Los Angeles.

In other words, according to Chaos Theory, small events often set up a chain reaction of events that will continue to compound over time that ultimately result in a big event.

This is the way I view things, both in the markets and in the weather.

Best wishes, Michael.

Robert M. Campbell


New book in 30 days: Timing the Real Estate Market