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Microcap & Penny Stocks : Microcap Kitchen Canadian Stocks
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To: diddlysquatz who wrote (45769)1/17/2017 4:33:52 PM
From: Claude Cormier  Read Replies (1) of 49402
 
Indeed a great piece.

This is the statement that I liked the most:

  • "So rather than “what inning,” I’d suggest investors ask whether things are or are not in an extended state. Is psychology depressed, average or euphoric? Is the capital market shut tight, normal or unthinkingly generous? These are questions that can be answered in a helpful way, not how close the game is to being over. No one knows the answer to the latter."

That is why I like to study charts, cycles and other so-called technical aspects of markets. They are not only technical because they often show how the behavior & emotions of the market participants have evolved over the years. Up & down.

I have to disagree with Howard Marks when he says:

  • "There are no facts about the future, just opinions. Anyone who asserts with conviction what he thinks will happen in the macro future is overstating his foresight, whether out of ignorance, hubris or dishonesty."

When I say that there is a bear market and recession ahead. It is a fact about the future. It becomes an opinion only if I say that these events will start no later than during the next quarter.

Thanks for posting this memo.
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