Anecdotal bottom indicator
- Thread starter Cutten
- Start date
He may have been saying that for years.
Cutten,
Those kinds of thoughts certainly make one think. I remember reading a story back in the tech bubble days about a big name fund manager/trader, I unfortunately donât remember who, was getting a taxi ride in NYC and he and the taxi driver started talking and after finding out what this guy did for a living, starting giving the fund manager reasons he should be buying this and that. After the cab ride, the guy decided things were in total euphoria and immediately started selling his holdings. It ended up being almost the exact top.
This kind of thing if repeated by many, not just one isolated incident, not in the business of finance giving advice to those in finance, would certainly get my attention as well.
Trendytrader,
I wouldnât put to much faith in anything Fitch or any other rating agency says. Recent history should have shown you they donât really do a very good job or have much credibility anymore. Do your own research and make your own decisions.
Good luck to all
BM
Those kinds of thoughts certainly make one think. I remember reading a story back in the tech bubble days about a big name fund manager/trader, I unfortunately donât remember who, was getting a taxi ride in NYC and he and the taxi driver started talking and after finding out what this guy did for a living, starting giving the fund manager reasons he should be buying this and that. After the cab ride, the guy decided things were in total euphoria and immediately started selling his holdings. It ended up being almost the exact top.
This kind of thing if repeated by many, not just one isolated incident, not in the business of finance giving advice to those in finance, would certainly get my attention as well.
Trendytrader,
I wouldnât put to much faith in anything Fitch or any other rating agency says. Recent history should have shown you they donât really do a very good job or have much credibility anymore. Do your own research and make your own decisions.
Good luck to all
BM
The answer to your question is NO.
Trying to guess the markets bottom by what some Italian policeman has to say, or Cramer or the pope or anyone else is a flawed belief that has been passed around from newbie to newbie and repeated like a parrots squawk.
People starting to wank about the market or the economy, does not mean we are at a bottom. Things can get much worse from here and the market can tumble a lot more.
Look at the nasdaq highs and lows from the internet bubble, 5000 to 1000.
Trying to guess the markets bottom by what some Italian policeman has to say, or Cramer or the pope or anyone else is a flawed belief that has been passed around from newbie to newbie and repeated like a parrots squawk.
People starting to wank about the market or the economy, does not mean we are at a bottom. Things can get much worse from here and the market can tumble a lot more.
Look at the nasdaq highs and lows from the internet bubble, 5000 to 1000.
well said, when I see bottom feeders still trying to pick a bottom that means there is still greed out there.....
.....when that greed turns to fear....then maybe we will have a bottom....
....smart money value investors waits for the light at the end of the tunnel...
.....only fools rush in and get cut to ribbons by the falling knives to come.
patience.
.....when that greed turns to fear....then maybe we will have a bottom....
....smart money value investors waits for the light at the end of the tunnel...
.....only fools rush in and get cut to ribbons by the falling knives to come.
patience.
