Don’t be a sucker for hype. That said, I choose hype over hate and optimism over pessimism. You should too.
I just found out that FLY is only 30 years old. Here is some pretty wise stock market (and life) thinking from such a young dude:
I know, any day now the market is going to crash. As we all know, the housing market is in the freezer and the country is going down the shitter.
I can sit here all day, bellowing over how fucked up everything is and why everyone is wrong– going long U.S. equities. But, that wouldn’t make me much money, would it?
My point: It is never a good idea betting against prosperity or being stubborn with investment philosophies.
Frankly, I may think stocks are a little pricey, but I will never get in front of a speeding bull train. That’s fucktarded.
If market sentiment reverses and stocks start heading lower, I’ll start hedging. Until that happens, I’ll stay long and enjoy the ride, while it lasts.
I have been meaning to write a post about all the hate and pessimism in the blogosphere (not just stocks, but politics, technology and entertainment), but what’s the point? The blogoshere has given the haters an unbelievably easy medium to spew their stuff. You throw out a little hate and a link AND boom you have an audience, either defending themselves from the attacks or gathering to share in other’s misery.
I have learned over time that it is better to focus on the optimism while the haters try to enrich themselves at the expense of their audience. If there is one area that moves money from the hands of the many to the hands of the few it is in hate and pessimism. That audience never learns. The hate throwers know this better than anyone.
Before I shut off most television and mainstream media, I had become one of those miserable pricks, wasting my time and energy betting on the “end of the world” and chasing around “value stocks” as if I had a clue. I didn’t (have a clue). Odds are you don’t either. If you did (have a clue), you would trust your hate and all-time low money to Warren Buffett or some other freaking value genius with the time and MONEY to play amongst the financial sheanningans of Wall Street and Main Street.
When I learned about trend following and immersed myself a long only strategy (cash and asset diversification as a hedge), it took me forever to commit. I feared that as soon as I stopped betting against the masses, I would be the last sucker. Funny thing happened, I was not. I have had some miserable periods of performance, but NOTHING is perfect. Chasing perfection, while admirable, will make you miserable.
I admit to tuning in to the haters on occassion. Shit, I watch CNN and Fox in doctor waiting rooms. I feel like an ass when I do. On the blogoshere, I get baited into exchanges. I always will I guess, but I won’t engage them or give them their due anymore on this site. It will make you fearful of taking a chance, but it will not make you money.