Looks like the people on wall st are too, what with the down fall of LEH, BSC, WM, ect... Maybe Rule 1 should just be "The trend is your friend"
I repeat: #1 rule has always been to preserve your capital. The losers on Wall St got greedy and ignored rule #1. The combination of greed and excess leverage will always end up in a blowup. Being smart or stupid doesn't matter when you are greedy.
Listen to main street, not Wall Street. You can learn more from a hooker about the state of the economy than you could from the chairman of the FED. Come on people this is basic stuff.