std::list::reverse_iterator not working right.

Expected output is:
Three
One
One

Actual output is:
Three
One
Two

If I comment out the block that displays the first One, the last line is
blank (in real program it causes memory fault)

#include <string>
#include <iostream>
#include <list>

std::list< std::string > SendHistory;
std::list< std::string >::reverse_iterator SHi;

int main ()
{

    SendHistory.push_back( "One" );
    SendHistory.push_back( "Two" );
    SendHistory.push_back( "Three" );

    SHi = SendHistory.rbegin();
    std::cout << (*SHi) << std::endl;

    // Comment out following three lines changes output
    SHi = SendHistory.rend();
    --SHi;
    std::cout << (*SHi) << std::endl;

    // This is the line that's causing problems. Why isn't it working?
    SHi-- = SendHistory.rend();
    std::cout << (*SHi) << std::endl;

    std::string wait;
    std::cin >> wait;
}

The line that is causing the problems is:
    SHi-- = SendHistory.rend();

Why is that failing? It should be the same as
    SHi = SendHistory.rend();
    --SHi;

but it's not working the same way. Is this a fault in my compiler maybe?
Microsoft Visual C++ .net 2003