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Megan McArdle

Megan McArdle - Megan McArdle is a senior editor for The Atlantic who writes about business and economics. She has worked at three start-ups, a consulting firm, an investment bank, a disaster recovery firm at Ground Zero, and The Economist. More

Megan was born and raised on the Upper West Side of Manhattan, and yes, she does enjoy her lattes, as well as the occasional extra-dry skim-milk cappuccino. Her checkered work history includes three start-ups, four years as a technology project manager for a boutique consulting firm, a summer as an associate at an investment bank, and a year spent as sort of an executive copy girl for one of the disaster-recovery firms at Ground Zero … all before the age of 30.

While working at Ground Zero, Megan started Live From the WTC, a blog focused on economics, business, and cooking. She may or may not have been the first major economics blogger, depending on whether we are allowed to throw outlying variables such as Brad Delong out of the set. From there it was but a few steps down the slippery slope to freelance journalism. She has worked in various capacities for The Economist, where she wrote about economics and oversaw the founding of Free Exchange, the magazine's economics blog. She has also maintained her own blog, Asymmetrical Information, which moved to The Atlantic, along with its owner, in August 2007.

Megan holds a bachelor's degree in English literature from the University of Pennsylvania and an M.B.A. from the University of Chicago. After a lifetime as a New Yorker, she now resides in northwest Washington, D.C., where she is still trying to figure out what one does with an apartment larger than 400 square feet.
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Surrender?

By Megan McArdle

Jan 31 2008, 4:16 PM ET Comment

If you spend any time watching "technical analysts"1 on the market watch shows--and who can resist?--you'll notice they spend a fair amount of time talking about "capitulation". This is what they call it when everyone decides the market isn't going up any time soon and sells out in the hopes of sheltering in safer investments. It is supposed to be a good time to buy because once everyone has capitulated, the market starts going up again.

I don't hold much faith in technical analysis. But looking at all the "just reduced!" ads in the Washington DC real estate classifieds, I wonder if homeowners aren't finally throwing the towel and trying to sell at any price.




1 A.k.a. "chartists" a.k.a. cranks

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