NW-Bound
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
- Joined
- Jul 3, 2008
- Messages
- 35,712
Lao Tzu: "The wise man is one who knows what he does not know."
Your comment, actually, is unintentionally funny. There are thousands, maybe tens of thousands, of people making predictions, each of whom knows exactly as much as you know about the future: zero.
It is the same as waiting for one of that infinite number of monkeys to produce Shakespeare. There are enough predictions extant that at any point some of them will be correct. These monkeys will be promoted by acclimation to "genius monkey" status as economic oracles. They will retain that status until they make some more predictions.
As I read threads like this one with excited comments about what happened yesterday, this quotation from Warren Buffet comes to mind : “The stock market is a device for transferring money from the impatient to the patient.”
Me, too. We'll look at our portfolio during the week between Christmas and New Years, as we always do. Some years we even make a trade.
I try to make opportunistic trades, and if my timing is wrong I hold on to my stocks, and never sell them all.
It's because I tend to believe the monkeys making predictions that my shares will recover.
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