I have not talked much about myself or even provided a Bio at this early stage – but that hardly matters. Suffice it to say when I jumped from Corporate Advertising to Wall Street in 1986, I was driven and excited about the business.
I opened my own firm, had a successful career, and offered my opinions on a popular radio show for over 20 years that I was in the business. Am I telling you this to brag? Absolutely not. I am actually sharing this for exactly the opposite reason!
On TV, radio, and the internet, you see and hear people daily who are mostly in important positions and generally they have been successful in whatever field they are being interviewed about. You will notice during times of uncertainty you’ll tend to hear much more from these people during times of chaos. Please do not misinterpret what I am about to say, because some of these people are indeed very smart but here’s the thing:
Not a single one of them can tell you what is going to happen tomorrow, next week, next month, or next year. They are simply sharing their best guess, and some will be right, and some will inevitably be wrong.
What concerns me most right now, on Tuesday morning, April 21 2020, have been the number of prognosticators who are positive right now, and I do NOT want people to get sucked into thinking that the market caved in, and is in a state of recovery. Perhaps you have heard the term “FOMO”that many of these experts use. rarely do they explain that this is “Fear Of Missing Out”.
With the general theme in the past several years having been “buy the dips”, that would have served you well over the last 6 weeks – but please do not feel you are “missing out” on the market right this second.
if you listen carefully right now, any person who is expressing positive opinions and saying we are in a Vmarket recovery (the market bottomed fast and will come back just as fast have NEVER been in a situation remotely like the really confusing markets of today. NEVER has the Federal Reserve jumped into the market, thrown so much many at stocks and bonds and businesses and people as they have recently.
All this has created hope, BUT HOPE IS NO BASIS FOR INVESTING! I will explain this in detail within the next day or two so that at least you can see both sides of what is occuring today.
In short, this quick entry is to say keep your head. Do not feel you are missing something today or tomorrow, because you will have time to take advantage of this insanity. What i have said here does not apply to all stocks as there are some situations. I am just trying to even out your perspective on the market in general, saying take a breath, and let’s analye where we are REALLY at – and not to fall victim to the “Hope” opinion (which is not described as such, obviously!)