The Sledgehammer of Stupidity

There may come a time for nuance and awareness amongst market players - but this ain't it.

Instead, the Sledgehammer of Stupidity is whacking away at the cautious players who've dared remain in cash-heavy positions.  And this is all by design, of course.

The saying Don't Fight the Fed was invented for markets like this.  I have companies in the portfolios I manage that are prospering and companies that are not.  Some I own for growth and some for value.  Virtually all are working higher, the only distinction is in the pace at which they do so.

And I know that I am underperforming, for I have the nerve to be keeping some cash!  Scoundrel that I am!   This in the face of new 52 week highs for the Trannies and the Techs and the Russell and Jarlsberg Cheese futures and, well, you get the idea.

My bullish-but-cautious stance may be vindicated with either a major correction or a minor dip - but from what level?  My doubts for a better entry point grow with each glance at the Curling N' Bulls*%# Channel (CNBC) - what with its fancy new graphics redesign.

And so as I make the major mistake of actually reading the latest economic reports and headlines, I remain a Brooks Brothers-attired croquet ball, awaiting the smack of the Sledgehammer of Stupidity.  This, while the ill-informed around me rush off to make their fortunes in the riskiest instruments they can get their hands on.

I hear it swinging toward me even now!

Full Disclosure: Nothing on this site should ever be considered to be advice, research or an invitation to buy or sell any securities, please see my Terms & Conditions page for a full disclaimer.

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