RE: "On second glance, I note that these same cattle are grazing on sheaves of paper. It is to wondered whether said cows will understand what is about to befall them on that day when, inevitably, they follow their sisters to certain slaughter."
Great post! All I can say is that I hope you're a writer. I enjoy your phraseology.
Many years ago, when I was just getting started in buying stocks, my parents were sold some mutual funds (load funds, of course). They bought into the sales pitch that the market would continue to go up, as it had the previous 15 years, and as long as their money was being managed by a "professional," they couldn't help but get rich quickly. All of their friends were buying mutual funds at the time - it was the popular thing at the time - so they jumped in. I believe it was sometime just before the DJIA hit 1000 in the late 1960s or early 1970s.
Of course, after seeing their investment decline significantly over a 15-year period, they gave up hope and sold the funds in the 1981 or 1982.
Are we in for a replay? Or is the new Baby Boomer era here, which will cause the market to go ever-higher for many years to come? Oh, for a crystal ball.
Best wishes,
I2 |
