Celebrity analysts are approaching the Dow Jones 20,000 point marker like it’s some kind of post-modernist Millennium Bug; our objective efforts can’t explain that reality so we’ll simply apply the artistry of our own sentiment; and then everything will be either hunky-dory or hellfire and brimstone.
The next time you read some idiot telling you that he can predict the future, try checking out the author first and see if what they’ve previously predicted to happen ever actually comes to pass.
Investment problems arise when you take any single market variable in isolation and consider it as gospel. There is always a pool of value out there in the market, you just need to know how to find it.
While I’m nowhere near endorsing a collective prescription for rose-coloured stock market glasses, the one continuous consideration for investors is whether they are making decisions based on popular opinion, economists and celebrity analysts or actual good advice.