31 replies to this topic

[NAV]

BTW, "Schadenfreude" means taking pleasure in someone else's misfortune - it does not imply any role in actually causing said misfortune. I used it because there's no English word with the same sense and I wanted to convey the condescending nature of your post.

 

You consistently referred to people who consider the stock market overvalued as "dumb." Read your post. That is offensive and unjustified because we won't know who was right for several years. Obviously you feel that you are smarter than they are, but your post exhibits little understanding of why and how they make those claims, or even what they mean.

 

I am one of those people. I may be wrong, but I am not dumb. If I am wrong, it will be because correlations that have held for many decades will break down. It can happen. It will not be as a result of tax changes, however "huuuge" they may be.

 

I firmly believe in debate as the best way to discover truth. But ad hominem remarks should not form part of any debate.

 

 I used smart money as those who buy early and distribute to the dumb those who capitulate late in the game. My apologies, if that offended you.

Edited by NAV, 23 October 2017 - 09:28 AM.

[libertas]

Apology accepted.

 

I would, however, point out that the last bottom for investors was in 2009, not 2016. And yes, I bought then. And yes, I sold a few years ago as the market rapidly became overvalued and I had better than doubled my investment. And I have been whining ever since and will continue to do so. But the folks who bought my shares from me in 2013 have certainly had the opportunity to make nice speculative profits, good for them. The Treasuries I bought have done quite well, though they have suffered a bit since their best in summer 2016. Will the stock market move higher still? I don't know - valuation gives one a destination, not the route that will be traversed to arrive there. Still, the waiting room is comfortable.