Wow ... just returned from two weeks in Hawaii (participating at the Ironman World Championships) and I consciously avoided all news. Scanning the newspaper headlines that were stacked on my door step ... I think the sky has fallen.
I think we are at the point of market capitulation. People are throwing up their hands and giving in.
Sir John Templeton called this the point of "maximum pessimism". His theory, which was proved true over and over, was that when the markets were at the HIGH of pessimism, THAT was the best time to be buying.
Are we there yet?
Comments(5)