Financial history doesn't repeat itself, but it often rhymes. You can't be stupid enough to trade off anything I say.... I'm lucky they let me out of the straight-jacket long enough to trade.

J. P. Morgan

"Sell down to your sleeping point"

Saturday, March 14, 2009

Sentiment: Stocks are for Suckers

We have talked about how we would hit a point with equities where we "lose a generation of investors" and where sentiment on equities would be so low that it would start to indicate that to the contrarian, they are the "no bid" investment of a lifetime.

LA times Seeing wallstreet for what it is.

Distill the last 16 months of financial hell down to one thought, and that would be it for millions of Americans. The U.S. stock market's plunge has wiped out more than a decade's worth of accumulated wealth, driving blue-chip indexes back to 1997 levels.

Twelve years qualifies as "long term" for most people. Ergo, it would seem, the stock market doesn't work.

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