Robert: You've hit the nail on the head. Just as the market reached the irrational exuberance phase just a little over one short (no pun intended, heh) year ago now it's verging on irrational pessimism. So right now I'm at a cash level not seen by me in over 5 years, biding my time and awaiting a smoothing out of the turmoil.
But even so, I'm inclined to side with one threadster, who alluded to the distinct possibility that the '90's were a once in a generation event. As the market evisceration continues it is looking more and more like this is the case. In fact, here's a site, where they do some basic comparisons, worth mulling over: lowrisk.com
Bottom line? Just as the '90's bubble was historic, so too is this bursting bear. The silver lining to all this? Although the market is probably not going to be approaching anything like the old highs any time soon still, if you're good and lucky as a stock picker, you can continue to do well (both as a short & a long). And just think, all those 20-something fund managers and "analysts" are now going to have to adjust to reflect this new reality.
And something tells me that there's gonna be a lot of job "rotation" going on where THAT is concerned, because stock picking is a hell of a lot more difficult than going with the momo crowd.
Regards!
John~ |
