What happened today? Investors finally disregarded all the “advice” from all the perma-bears and jiggle and wiggle “gurus.” No matter how much they squirmed and wiggled, shouted and screamed…investors surpassed the noise and acted as the old legend of Odysseus!
Odysseus got his ship safely past the Sirens by plugging his crewmen’s ears with wax and having himself roped to the mast.
But is such a defense sustainably effective against the song of the pessimist?
I don’t think investors will ever block the song out entirely, for they are, after all, human.
But to me, I think they are now more aware of the pessimist bias!
They are more frequently using their internal compass to navigate their investments by staying alert to the pessimist dangers…