Posted by kdadmin on December 17th, 2014.
As you know, I’m a huge fan of inane market volatility. Mainly, because it reminds us that just because everybody else is jumping off the bridge, doesn’t mean that we should too. There is opportunity everywhere.
Take the past few days, for example … First the S&P 500 couldn’t go down fast enough over oil concerns. Then the global market was melting down. Then the Federal Reserve was going to be stupidly hawkish for some reason. Then, as usual, the Feds offered some rational guidance. Then things started coming up roses; and then S&P 500 gained nearly 40 points.
I love these markets because I get to buy in at a discount. If I’m bullish on a particular segment of the market and then, for some senseless reason, it’s selling at a healthy discount, I’m going to be a kid in a candy store. Those of you who are my clients will be getting evidence of how I spent my S&P 500 sub 2,000 candy store buying morning.
Look, it’s one thing to be a professional amateur and pop off at the mouth about the global economy. It’s quite another to understand it well enough to know when to make a move; especially when lots of other people depend upon your advice. So, if you’re managing your own portfolio and you can’t explain why, exactly, you made the choices you did today, then you owe it to yourself to hire a pro who can.
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