The Great Humiliator
When you see people make great noises about the equity market, you can only chuckle. All the learning leads you to only one thing. IT IS IMPOSSIBLE TO PREDICT MARKET DIRECTION in the short run.
repeat IT IS IMPOSSIBLE TO PREDICT MARKET DIRECTION, SPEED OF MOVEMENT, ETC. IN THE SHORT RUN.
having said that twice I should hope you have understood it. Get up every morning and read it. If somebody asks you give a good smile and get away.
People tell me “Oh you will predict only if you are paid money…?” I have found the whole thing amusing.
Ken Fisher calls the markets “The great humiliator” – just when you feel you have learnt everything about the market, there will be an event which will slap you real hard. Hence the word ‘the great humiliator”