Let the Bull Times Roll!Sentiment
The Stock Market is up over 23% in 35 days. If someone had told you on March 9th as the Dow was trading at 6,547 that 'you should put your money in the market right now if you want to make 23%,' what would you have done? Do you remember how horrible March 9th felt? Would you have had that person thrown from your office or would you have done it yourself? But the market is up 23%, and the painful experience of March 9th is becoming milder by the day. I'm reminded of the mid-life crisis t-shirt that reads, "The older I get, the better I was!"
Do you feel it? Are you relieved? Are you feeling more hopeful about the markets, the economy, your financial well-being, and the future? You are, aren't you? We are. We are feeling better. And the crucially important point is "SO WHAT?!" So we're feeling better. Are you ready to change your investment posture because you're feeling better? Do you want to put some more money in stocks now? Our guess is that you're feeling precisely that way.
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
Tuesday, April 14, 2009
Michael Farr calls the Bull
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