mauldineconomics.com / BY JARED DILLIAN / MAY 11, 2017
This one will be familiar to old The Daily Dirtnap subscribers.
Around the summer of 2006, when I was at Lehman Brothers, I started bellyaching in my notes to clients about how the market went up every day. I am a pretty creative guy, so every day I had very colorful (and irreverent) things to say about how stocks went relentlessly higher and how my life sucked.
This went on for a couple of months.
Then, one day I sent out a whining email about stocks and I got back a three-word reply from a hedge fund trader:
“Bull market, dude.”
In almost 20 years in the investment business, I think those are the most profound words I have ever heard. There is a lot of wisdom in “bull market, dude”:
- Stop fighting it.
- It will turn when it turns, not before.
- In bull markets, you can only be long or flat, not short.
- Everyone is making money except for you.
- Stop being a putz.
Read more ... source: The Bitcoin Channel
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