Investment markets bounce between greed and fear. For a historically long time, we have been experiencing greed. "Hey, investing in the market is a sure bet!" As Lee Corso always says, "Not so fast, my friend!"
You could have thrown darts to do well in the last few years, but times are changing. We're hearing about many layoffs in the tech sector and those layoffs are growing. Their businesses are slowing. Tech is a key productivity tool for most companies. Tech's customers are slowing down their purchases. Why? To cut costs. Those customers will also cut down on their personnel as well to cut more costs. The effect will spiral.
It's common now for CEO to provide their "own numbers" in addition to GAAP numbers. They can either throw in the kitchen sink or take out the kitchen sink. News reporting services often report these FUBR numbers. There is nothing like everyone having their own reporting standard. It ought to be a George Carlin standup routine. I wish he was still around to do that one. That would be a hoot.
We're incrementally turning to fear. Apathy will spread as many "investors" are burnt buying into bear market rallies only to take further losses. Soon people will be saying, "I can't believe that guy convinced me to get into the markets. Dumb a_s! I need out before I completely lose my retirement."
The fear will be visceral, but if someone has been truly investing, it will soon be time for getting those buys of a life time as many swear off the markets as foolish advice and stocks continue their slide.
By the way, we need someone to put on the Nittany lion head for Saturday against Ohio State. Where is Lee Corso when you need him?. We are Penn State!
Be smart, be well-read, be aware and be successful.
