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Richard's Remarks

 

People hate uncertainty. Everybody wants surety and guarantees. People would rather hear the wrongful opinions of a cock-sure blow-hard than the vague and considered opinions of an honest man. There are certain times when there are no really helpful guides to investing.

 

One of these rare times arrives when the pros and the retail public grab the bull by the tail and won't let go. This is one of those times. As a result, the media goes on a frantic search for what it considers "expert opinion." So-called expert opinion usually centers around university professors and professional money managers, and occasional Nobel Prize winners.

 

These experts usually present their opinions in a series of hedged statements. If a price is forecast, no time limit is given. If a critical time period is forecast, no price prediction is offered.

 

At this time, we are experiencing one of those rare periods when most of the ... Log in or subscribe to continue reading.


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