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It also, unfortunately, marks the end of the daily publication of The Gartman Letter , a newsletter that has been going on daily for 30 years. If you were to ask Mark Hulburt from Barron who recently interviewed Gartman , this warning comes from a more base belief: that there is a lack of experience and a lack of fear among those participating in the market.
The buyers have enjoyed having the investment winds at their backs. But those winds will eventually shift course and when they do shift, they shall swamp everyone… the reckless neophytes as well as the conservative, sophisticated investors alike. Recover Your Investment Losses. Currently, with the Fed artificially adding to the market, those untrained year olds with a brand new M.
This past decade caught all of us off guard with how the markets seem to not make near as much sense as they should. Better it is to wait until the stock in question is profitable for then the market is telling you that you are right; that your thesis is the correct one; that the investment wind is at your back and that the investment coast is clear. We have learned this the hardest of ways, by having broken the rule; having averaged down and having almost always suffered even greater losses than we had originally suffered.
Secondly, we have indeed learned that as Lord J. Keynes and Dr. Gary Shilling told us, the markets can remain illogical far longer than we can remain solvent.
Our investment corollary to that is that the market will return to rationality the moment you have been rendered insolvent and then shall turn on the proverbial dime and move in the other direction. It happens all the time. It will happen again; count on it! We have learned that markets move in very large cycles and that what is very popular now will inevitably become unpopular and that what is manifestly unpopular now shall become popular again. We have learned to listen to those who have in the past been the wisest for wisdom is a God-given talent and rarely is lost.
The Wise of years past will likely remain the Wise of coming years. The Keyneses, Shillings, Wesburys, Kasses, Perrys, Tudor Joneses, Grants, Williamses, Coxes, and Buffetts et al were wise in the past and will be wise in the years ahead because they have all been battle tested and have survived.
We have learned that bad things happen far more quickly than do good things and that bear markets are far more severe and swift and terrifying than are bull markets. There is nothing quite like it, really. Thanks to everyone! We mean that sincerely. John Bennett John has a background in helping kids with math and loves writing about the stock market. He has a brain for things that are technical and is applying them in the financial world. Follow John as he covers breaking investment news and stock tips.
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The staff Alphabetastock. We loved the fact he put his money where his mouth was. To many financial publishers today never invest any money, let alone their own. Recover Your Investment Losses. He says the skirmishes damage the economy and send a terrible signal to importers and exporters. Add to that the major fiscal and regulatory requirements, and we have chosen to stop doing business as we did in the past.
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