I linked to this on Tuesday, but it was so good that I had to lift it in its entirety.
via hedgefolios, comes these amusing observations:
You know you are a Permabull when…
- each time the market declines you declare it a "healthy pullback"
- sideways moves are actually just the market "taking a breather" or a "pause"
- missing earnings estimates is ok as long as management confirms next quarter’s guidance
- bad guidance is ok as long as last quarter’s earnings beat estimates
- you criticize any analyst that downgrades your stock from "Strong Buy" to "Buy"
- you applaud poor economic results as good for the market because this time they will cause the Fed to stop raising rates
- any negative market commentary is evidence of a huge "wall of worry" that the market needs to go higher
- you plead that a 10% decline is a "great buying opportunity"
- you blame any market decline on short sellers who just don’t understand
- oil declines to $60 and you expect that will cause the market to head higher
- oil increases towards $70 and you point out how the market has been able to absorb higher oil prices
- you quote the cliches "history repeats itself" for positive things and "it’s different this time" for negative ones
- an inverted yield curve doesn’t concern you at all.
UPDATE: March 4, 2006 1:41pm
If anyone has additional suggestions, by all means please add them to the growing list in the comments.
You Know You are a Permabull When. . .
Mike on 02.23.06 @ 2:02 pm
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.