NW-Bound
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
- Joined
- Jul 3, 2008
- Messages
- 35,712
I claim "no fair"! You get to pick the disfavored sector AND the time period!!!
Well, you are the one who first picked the period to show the rebound of the financials over the last 3 months. And this rise of the financials comes from the stronger ones. Some of them ceased to exist like Bear Stearns. Hence, the drop is a lot more severe from 2007 to the bottom. The ones that came out owed their survival to the gummint bailout. In 2000, the telecoms and semis had no bail-outs. Surely, it is not fair.
Talk about bottom fishing, we all like to do it. Darn, it's exciting, particularly when you make money. But again, as I said, I like to bottom fish in "innocent" sectors. It does not mean you cannot make money bottom fishing in the financial sectors. There are so many ways to make money in a bull market. Whether that is going to last is 'nother thing.
Anyway, I like to point back to post #39 of mine, which quoted the review of Bogle's book by William Bernstein, that had an observation about the overweight of financials in the S&P 500 index, when the former was riding high in 2007. Who is the Cassandra now?
I need to go reserve this book from the library to see for myself what else Mr. Bogle had to say.