Every once in a while, the market does something so stupid it takes your breath away.
We are all wrong so often that it amazes me that we can have any conviction at all over the direction of things to come. But we must.
I wish it grew on trees, but it takes hard work to make money.
The people who are buying stocks because they’re going up and they don’t know what they do, deserve to lose money.
I mean that what makes me a professional, but the market itself has been fabulous during this whole period and I’ve got to give the market credit before I give myself credit.
There are tons of people who are late to trends by nature and adopt a trend after it’s no longer in fashion. They exist in mutual funds. They exist in clothes. They exist in cars. They exist in lifestyles.
As long as you enjoy investing, you’ll be willing to do the homework and stay in the game. That’s why I try to make the show so entertaining, because if you aren’t interested, you’ll either miss the opportunity to make money in the market or not pay enough attention and end up losing your shirt.
A good investor in this new world knows to always expect the unexpected.
But be very, very careful, because when you’re playing with momentum, you’re playing with fire.
Whatever money you may need for the next five years, please take it out of the stock market right now, this week.
I mean I’m not smarter than the market, but I can recognize a good tape and a bad tape. I recognize when it’s right and when it’s wrong and that’s what my strength is.