>>>They have been taught the market always comes back.
The real rub will come when they need that money to pay house
notes and so on<<<
There are two groups of investors: those with experience who have
lived through serious bear markets, and those who don't have a clue, because, since the market has been bullish from either 1982 or
1975, take your pick, they have not seen any down markets.
Now, as we go forward, it will be interesting to see if the pessimists from experience prove to be right, or the optimists from not knowing any better are.
The difference between the two may be that the pessimists are locked into the comfort of knowing the trading range from where we came and that we could go back there.
The optimists may be be naive enough to expect great things in the future.
It is a big world out there, we have not tapped even a small percentage of it to date.
I wonder if the great prognosticators of the past ever foresaw the world of the present, with the instant everything today: communication, delivery, and gratification.
Or, to put it in other words, that we would not be tied by the limitations that existed decades ago forever.
Vitas
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