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Letter 1578

April 27, 2016

Richard’s Wisdom – “Richard’s Thoughts on the Market”


Richard’s Comments:

Do you know the single most fantastic thing about the

market? It is that there are no market experts. True, there

are brilliant students, there are highly successful investors, but there are NO experts. One of the things that I have

had to learn when dealing with markets is that any person, any analyst, any man or woman, professional or

otherwise, can at any given time be DEAD WRONG.


I've watched and studied so-called experts for four decades. I've seen presidents, treasury secretaries, Fed chairmen,

advisory writers with national followings, Wall Street "geniuses," money-manager heroes -- I've seen them all

pitifully wrong at various times. And that is probably the most fascinating thing about Wall Street. It makes humble

men and women of us all. Or else, it renders us fools. I will put it in a stronger way...


There's a bit of Wall Street lore which I often turn ... Log in or subscribe to continue reading.


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