The relief rally today after yesterday’s great sell-off made all of us at Gropestone feel better. Until we reviewed the cruel math of the recovery curve.

These humble scribbles lie at the tip of the long tail of stuff spewed out onto the internet. There is only one direction to go on the weblog power law curve. But maybe there is no hurry. Maybe, knowing the anatomy of tails, the air is sweeter at the tip than at the base.