Include some varient of the words (thanks Kirk Report for both of these):
- It'll be different this time (like here)
- Declare whatever is going on will have no end (or will continue for a long long time) (like here)
Honestly, the amount I know about the stock market could fill a thimble with room for your thumb, and I certainly did not win the "2006 Lawrence R. Klein Award for Blue Chip Forecasting Accuracy", but honestly, when have either of these statements ever held true?
In other news, there were a couple of pieces in there on seasonal investing. Apparently, during the summer months the stock market does nothing (or very close to that) and in the winter months it does 15% (or whatever). The piece says over 76 years, $10k would turn to $23 MM in the winter and $5.7 MM in the summer. They also go on to say that the trading costs and taxes likely would have killed the difference, but even so, why is this the case? Shouldn't intelligent markets quickly drive this difference away?