Bottom Feeding?

We get asked almost daily whether the market has hit bottom. No one knows for sure, but we've been saying that, barring a major change in mortgage rates or an economic sea change (election year, anyone?), we think our feet will touch the bottom, so to speak, sometime between now and Q4, 2008. Well, one economist thinks we've hit the bottom already. Check out this WSJ article for a very interesting take on the market. Whether he's right, we cannot say for sure, but we definitely agree with his secondary point: the rebound will be slower (and hopefully more sustainable) than the boom.