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Sitting here listening to CNBC while working, I heard that economist Nouriel Roubini, appointed by that network as “Dr. Doom,” was going to be a guest host for two hours beginning at 7 a.m. The tease suggested that he was changing his stripes a bit, becoming more optimistic regarding the economy. I immediately thought that the economy as well as the financial markets are not a still photograph that can be taken from one’s pocket from time-to-time, never changing, but rather a motion picture that evolves.
We always keep this in mind when investing. Always reassess your holdings. Constantly reassess your views regarding the economy. Finally, never back yourself into a corner regarding an economic outlook or a particular investment. Always be willing to change your opinion when the situation changes.