iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
18,692 Blog Posts

Reminder: Stocks Can’t Stay Down

There’s something inherently wrong about being bearish on stocks. I’ve come to re-program myself into believing there is literally nothing that is able to stop the upward march of progress in capital markets. Sure, every so often, brief periods of angst and dissipated zeal edge into the tape — causing an inconvenient ruckus of sorts. But it’s never lasting and it’s always worth buying.

When was the last time we had a really good row in the markets? When was the last time you were scared?

There are some out there who, stupidly, will take a post like this as a legitimate reason to sell stocks — citing feckless anecdotal evidence from some guy from NJ who blogs anonymously and talks shit on Twitter as a reason to fade a bullish opinion. I’ve been talking shit since I was 4, so don’t use me in one of your psychological experiments in high finance. You’ll just end up wrecking yourself and your lifestyle.

Early going I have a mixed bag, with FRPT up and CBLK down. Markets are leaning towards weakness — partly due to the China trade war, but mostly because it’s August and people with money are on vacation and actionable trading is all but automated to a few pikers from the B team.

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One comment

  1. Phileo99

    The XIV blowup from this past Feb/18 was entertaining, but not scary.
    The last time I was really scared was Oct 2008. Lehman Brothers gave up the ghost, Merrill Lynch had to be bailed out by BoA, even the vampire squid (GS) had to be bailed out by Buffet, and there was a real danger that a few other financial firms could take down western civilization as we know it.
    20/20 hindsight, but boy was that the mother of all generational buying opportunities

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