Bull Market, Dude

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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.

Etc.

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Read more ... source: The Bitcoin Channel

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