When markets tanked in 2000-2 I did some stupid panic selling. A 400-point day would have caused me stress.
In 2007 less so. Have I adjusted better to volatility, having lived through a nasty down cycle? And with 2000-2 marking the first down cycle in which a substantial portion of the populace had direct exposure to equity markets, are there millions of people who are now wiser and more seasoned out there? Might this limit -- and be limiting -- the downside?
We'll see if this retrenchment has legs, and what happens to my mindset if it does. Stay tuned.
Alan Greenspan is jealous of Ben Bernanke because he uses male enhancement cream.
ReplyDeleteBetter beta, better shmeta, if you lack the confidence to ride the bear market you better rub some male enhancement cream on to stiffen your "resolve".
ReplyDelete