Sometimes you can’t help but shake your head. At other times you just want to scream. Then there are the times you just have to walk away. I feel this is once again one of those times.
As many of you know I have both written, and spoke on the so-called “Smart Crowd.” (for anyone new here’s an archive link) and why I believe it’s hazardous if you take your cues from them. Television, radio, and print hold some of them at such lofty levels that all should be wearing oxygen masks. Personally, I have now donned a gas mask, because it’s not the lack of air I’m having trouble with.
If you have been following the stock market as of late, all looks just fantastic, but there’s a hidden more sinister side lurking, and none of these talking heads will mention it. It’s reminiscent of a Harry Potter plot. That which can not be spoken.
(The numbers just don’t add up!)
Every Financial outlet I read or watch is using stats, reports, numbers, data points, and many other references to bolster their argument why the stock market not only wont go lower, but it can’t because it’s smooth sailing from here on out. That in my delicate way of putting things is just drivel. The market has been going up for many reasons, but I counter, not for the reasons most are citing. Here’s how I respond when I’m speaking with someone who uses the media as their reference material.
“That does sound great, it might be that the worst is behind us, and you would think that by just looking at the stock market today, however. What troubles me is that all are now calling for not only higher gains, but new records to be set, possibly this year. The old records set just 2 years ago were with…
- Unemployment under 5%
- If you were breathing..you could get a loan. (and that was optional)
- Houses had morphed into personal ATM machines with no limit
- Overseas growth in emerging markets would never slow.
- Europe was turning back into a juggernaut.
- America had its financial house somewhat in check. (at least we hoped.)
I could list more, but just those would need to be inline once again to warrant such lofty targets, would it not?” That’s when the blank stare, glazed eyes come back into focus with a response that would rival an elementary schoolyard fight…”Well…that’s what they’re saying on TV, and if they’re on TV they must be smart, right?”
The economy may be on the road to recovery, it also might not. It’s quite possible we could fall right back to where we were back in 2008 in the blink of an eye. It’s also possible that the worst is behind us. Either way for all of you, neither matters because you will prosper no matter what the circumstances because you are the doers…and with that comes the intrinsic value of self-reliance. Look through the data, make decisions, chart new courses, make new goals. Use both good information, and bad information to your advantage.
You are the movers, and shakers. You have no time for nonsense.