Vogue (magazine) audience could conceivably afford. For example, the inaugural cover of the magazine under Wintour's editorship featured a three-quarter-length photograph of Michaela Bercu, an Israeli model, wearing a bejeweled Christian Lacroix jacket and a pair of jeans, a departure from her predecessors' tendency to portray a woman's face alone; according to "The New York Times", this gave "greater importance to both her clothing and her body". As fashion editor Grace Coddington wrote in her memoirs, the cover "endorsed a democratic new high/low attitude to dressing, added some youthful but sophisticated raciness, and garnished it with a dash of confident energy and
Magazine cover indicator a bull market for the better part of two decades. Even after the financial crisis of 2007–2010, stocks remain far above their 1979 levels. Using the Magazine Cover Indicator, "Business Week"'s projection that equities were dead should have been a buy signal. By the time an idea has had time to make its way to the business press, particularly a trading idea, then the idea has likely run its course. Similarly, good news on a cover can be taken as an ill omen. As Paul Krugman has joked, "Whom the Gods would destroy, they first put on the cover of