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Strategies & Market Trends : John Pitera's Market Laboratory
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To: John Pitera who wrote (20030)9/25/2017 9:26:34 PM
From: John Pitera4 Recommendations

Recommended By
3bar
Fintas
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sixty2nds

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The comments that were made at the start of the Episode 4 of "The Vietnam War" by renowned documentary maker Ken Burns......

Ken Burns and Lynn Novick’s ten-part, 18-hour documentary series, THE VIETNAM WAR, tells the epic story of one of the most consequential, divisive, and controversial events in American history as it has never before been told on film.

The General makes the comments that " Leaders prepare to fight the next war using the playbook that worked in the last war. And the US leaders were very cocky and over confident in the US ability to easily win the war. "we would take a sledgehammer to them, the way that we had in Europe in WWII"

he went on to say that "when one is cocky and overconfident" they do not know that they have an
ignorance about a subject and are not receptive of learning of their ignorance.

"and when one is both ignorant and cocky and over confident, they are not able to be shown the truth of
a situation, as the overconfidence makes them unable to learn that they are ignorant (under informed ) about the new and different war.

As I watched that I thought.... you could substitute "Market" for WAR and you have the exact same situation.!

In the markets we are always expecting the future to resemble the past that we know of.

And the investors and participants in the markets are always fighting the battle from the last war, and
and do not see that the next time period will differ from the current and previous one. The next bull market is always different in some respects from the last one.

Also, the next bear market shall be different in many ways from the GFC - Great Financial Crisis of 2007 - 2009 and the .com and B2B bubble that was popped in March of 2000 and lasted until early
2003.

JP
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