Financial Markets Are Full of Bull Now, But Enjoy!
In a nutshell, here’s how I feel about financial bull markets. Enjoy them, because they never last.
“U.S. stocks rose on Friday, driving the Dow and the S&P 500 to close at record highs as the shares of 330 companies hit 52-week highs on the New York Stock Exchange.
The S&P 500 scored its third record closing high in a row while the Dow surpassed its previous record close on June 10. The blue-chip index hit an all-time intraday high at 16,978.02, coming close to the 17,000 mark.
For the week, the three major U.S. stock indexes rose 1 percent as investors brushed off geopolitical concerns about Iraq and focused on the Federal Reserve’s comments indicating that it will keep interest rates low for a long period of time.
The benchmark S&P 500 has gained for six consecutive days, supporting a cautious view that a near-term correction may be inevitable.”
Read more here: “The Bull Finally Firing On All Cylinders”
Also, here’s how I feel about self-styled overconfident market gurus. There’s a reason why they’re called “bulls.” It’s because they’re full of it. Every peer-reviewed statistically significant financial study has emphatically substantiated one thing: Market timing is complete nonsense. It’s never worked. If you’ve made money in the market, it’s because the economy as a whole has expanded and EVERYONE made money. It’s obnoxious when huckster financial gurus b.s. the lay public. Nope. Sorry, dreamer, there are no financial geniuses on Wall Street, only immature and self-absorbed narcissists playing with someone else’s money that they DID NOT earn.
If you love gambling, then by all means, please enjoy this blessing of a financial market, and feel free to fool yourself into believing the illusion of “expert-ism.” The truth is that there are no financial wizards when EVERYONE in the market made money. Imaginary expertise is just that -imaginary – because the financially well-informed know better.
As always, thanks for tuning in today, Constant Reader. Please be careful out there. Until Next Time…
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