RE: Who Called the Dow?! The biggest non-Super Bowl prediction of 2018!
Congrats! This was a fun read.
My take is that the markets still have a lot of optimism baked in, largely as a result of Trump's tax cuts.Just my $0.02 (literally) -- I think the liberal/mainstream media is having a lot of fun trolling President Trump right about now... He loves talking about how well the market is doing, and this is a great chance for the mainstream media to hit back.
Anyway, one of my favorite quotes from Warren Buffett is the following, "The only value of stock forecasters is to make fortunetellers look good." Genius for a day is easy, but genius for an extended period of time is almost impossible! One of my favorite books of all time is Burton Malkiel's "A Random Walk Down Wall Street." Long story short: monkeys throwing darts at a wall of stocks to invest in can do just as well as professional stock pickers. That's why Buffett always advises to buy and HODL for the long term...
Thanks for popping by. So I am #notagenius ? Damn! I think a lot of the corporate conditions are good right now. I think the value of the market is essentially expected profits in the next 4-6 years. But it has been a long rising ride. And I think many (like me) have been looking for a good moment to move to bonds. Not a get rich quick move, but a cashing in and waiting move. My fear is that financial market jitters could trigger a downturn despite a good climate for corporate profit seeking.