Read on to see an article from the archive of Clem's Building an Income Portfolio blog on 14 August 2015:
The Market Doesn’t Listen to Me
While I’ve been moaning and groaning about the recent market correction and the possibility of a crash, the market has whipped around and shot up.
There are plenty of lessons here.
1. The market listens to no one.
a. If I was the head of the Fed it might give me a short hearing but even then, even the biggest financial titans are normally ignored by the market.
b. What I think will happen won’t make it so. You have to be able to think one thing and do the opposite. This means playing the percentages, which is not a natural thing for anyone to do.
2. You might think the market is going to crash but it probably won’t, so hang on in. If you are absolutely positively definitely sure that’s the only time to sell.
3. The market rallies hard and if you miss the rally after a correction you lose a lot of money by not being there to get the benefit.
So as the market swerves off on its way from one precipice to another, try to forget about it and keep applying your investment ideas.