Posts filed under “Psychology”
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