|
Written
years ago, but still true today. Magazine
covers and news headlines often give wonderful clues for trying to predict the
future of market ups and market downs; a consensus of popular thinking right before
your eyes. Magazines,
newspapers, and the media may be the first to know but usually are the last to
figure it out. When they are sure it's happening, when they print it, it has,
like most news, happened. It is done. It is over!
Newsweek,
September 9, 1974 | "It's
over, bears are out." | START
OF A MAJOR RALLY |
Business
week, August, 1979 | "The
death of equities." | START
OF A MAJOR RALLY |
Time,
September 14, 1987 | "The
Selling of America - | Foreign
Investors Buy-Buy-Buy" | Institutional
Investor September, 1987 | "The
wonders of the Magellan Fund." Fortune, September 1987 | "Are
stocks too high?" | (They
both said no.) | MARKET
CRASH |
Fortune,
October 1987 | "Market
Crash" Newsweek, October 26, 1987 | "Is
the party over?" (they said yes) | BEGINNING
OF LARGEST RALLY IN HISTORY |
The
Atlantic, October 1989 | "The
Coming Global Boom." | THE
BEGINNING OF GLOBAL RECESSION |
The
Economist, October, 1989 | "Just
sniffing around - the bear again." | THE
CONTINUATION OF THE MARKET FOR TWO YEARS TO NEW HIGHS |
U.S.
News and World Report, November 12, 1990 | "Can
your bank stay afloat?" (They said no.) | BEST
TIME TO BUY BANK STOCKS |
Step
back. Read the headlines. You will know what the world is thinking at a glance.
Pull out old copies of various business and financial magazines at your dentist's
office to find out what you should or should not have done and at your local news
stand for current issues to decide what you should or should not do now.
Whatever
the bold print says usually represents the extreme end of the move of the pendulum
and, as you are reading the headlines, the cycle will soon go back the other way.
Just do the opposite of what the headlines say. You
can print that! |