By Alan Steel
Last month Morgan Housel wrote that there’s been 9 headlines in major investment journals stating “The Easy Money’s Been Made,” starting in November 2009, and continuing in December 2010, November 2011, May 2012, December 2013, October 2014, March 2015, January 2016, and June 2017.
These are guesses, folks, and they’re all wrong.
Talk about fortune cookie reporting.
And it looks like the media’s predictive accuracy has remained at that level of consistency.
The latest “black swan” theories include aliens, asteroids and world wars, followed closely by the ever popular CAPE ratio comparisons between right now and the big crashes of 1929 and 2000.
The clue is in the phrase “black swan.” You can’t see them coming.
My own fortune cookie says, “now is the time to make circles with mints, do not haste any longer.”
(Love their noodles, but I’ll skip the advice.)
So, while all those well-scratched records out there continue to croon about the next big bad event, for me I’ll consider the insights of Pring Turner and folks like Joe Kalish at Ned Davis Research, who still reckons we’re in a Secular Bull, albeit with a correction overdue.
Folks, you can’t sit around just waiting for bad things to happen.
That’s how you miss out on becoming wealthy.
Try getting some good advice instead.
Maybe the fortune you seek is in another cookie.
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