If you read Yahoo Finance and some other financial websites, you’ll see your fair share of pessimistic headlines. Like the one where the recluse millionaire – or the guy that’s foreseen every crisis we’ve ever had – is predicting that the market will drop by 50%.
One thing I’ve learned the hard way over the years is that pessimism sounds like an intelligent argument. Whether it’s because the US has too much debt, or that China is about to implode, or for whatever other reason, somehow it’s easier to buy into the bearish argument than the bullish one.
And then you have people like Mark “Dr. Doom” Faber, and Peter Schiff, who are perma-bears and have been negative on the market for the last 20 years. Well, look. If you keep repeating the same thing for two decades, eventually you will be right…
The fact is this: when you look at the performance of stocks over the last 100 years, there is clearly an upward bias.
I know there have been some very scary moments throughout the years – including this past year. But the market has done one thing overall, and that’s go up.
The Dow was 100 at one point. It’s over 25,000 today. One day it will be 50,000.
I am a believer in free markets. I’m bullish on America.
We absolutely have our problems. But I sure would not want to go back to not having a cell phone, or apps, or streaming music, or GPS, or being able to research anything at anytime in minutes.
I am optimistic about the future.
Optimism has been very profitable over the years.
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