The Yankees lost back to back games last week (and we are NOT Yankee lovers) and the naysayers came out of the woodwork. Based on the commentary, it would have been hard to believe that the Yankees had the best record in baseball.
Similarly, the Dow has given up 200 points or so from its recent high after a significant run of 2000 points since early March and one would have thought the sky was falling. One noted pundit cited the religious celebration during the month of Ramadan as a likely time for a market pullback hinting at some type of geopolitical issue.
We believe that an autumn market pullback is likely - that it could be 10% and that it should not be sold! Keep the faith that things are on the improve economically and that the market will be higher in 12-18 months.
Don’t take the risk of market timing and end up missing the rally that we believe is on the other side of this pullback.
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A little downside might be a good thing
Wednesday, August 19th, 2009
| « Inflation Not Any Near-Term Imminent Threat | Weekly Recap for August 14, 2009 » |
| « Inflation Not Any Near-Term Imminent Threat | Weekly Recap for August 14, 2009 » |
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