Hi T,
I agree with your thoughts. We have prospered thru the greatest Bull market seen.For those who have studied the past - it can only be fondly referred to as the "BEST".
What now lies in it's wake is the dichotomy of Accumulation vs Distribution , Strong holders vs Weak holders. This is a key to the future markets.Time is the healer of all pains.
Our market place will always be historically footnoted by bullish runs and sell-offs. These are the building blocks of a market place. They are its essence and its allure.
I have continual optimism regarding ongoing sector trends.These are the currents of the market - as continual as the currents in the seas. At times the currents are still as they morph from full moon to half moon or vice versa - this is where patience becomes an integral part of the game.
So you just pulled a four bagger - human nature says "Run out there and do it again". Wisdom says slow down,await another wonderful opportunity.
Success doesn't come from constant battle - it rewards those who choose selectively.
I for one, think this is a time of patience.It commands the skill of wisdom/selectivity vs momo and" No Fear"purchases - it calls for the essence of investing vs the boldness of speculation.
Our marketplace is rich in dynamic firms - many of which run quite nicely below the horizon.Debt free,high tech,lean and efficient - these are tomorrow's Cisco's and Jdsu's.They have been run under the guiding philosophy of conservative management practices.Their shine has yet to be tarnished by the daytrading momentum players.They have simply been chasing their own self criticism and honest work ethic.
I have no doubt they will prevail in earnings.I have no doubt their cup and handle will break out.I have no doubt their volume will explode as the price action of the stock far outstrips the fundamentals of their business.
This bloom will be what beckons the destruction of their safety.It is the rule of the street, that price action of a stock draws investors much more then wealth creation of the underlying company. This is the obvious sell signal so often overwhelmed by the powerful emotion of greed.
These are the wonderful ever recharging characteristics of the greatest market in the world.
I for one am quite comfortable to be patient and diligent in constantly looking for the next :railroad,IBM,Intel,Csco.
Our markets will continually provide us with rotating leaders.It is the biproduct of innovation and competition.
I think a marketplace that ushers in performance vs stories,asset accumulation vs hypothetical business models hyped by venture capital is a much safer place for me to reapply my life's savings.
I'm very cool with the concept of becoming wealthy with the creation of profits vs the the spin of a pitch.
Yes I can be very peacefully patient and await the harvest of wealth from investments that share and bear fruit AFTER the continuance of wealth creation occurs.
It is quite frankly refreshing.
Have a great weekend.
As always thank you for helping to quantify the noise and confusion. Your work is greatly appreciated from those of us in need.
Bob |
