Bull Markets
Successful investing is hard work because it means disciplining your mind to do the opposite of human nature.
Bull and bear markets are polar opposites and often compel us to do the wrong thing.
In bull markets you forget about valuation.
In bear markets all you think about is valuation.
In bull markets it takes a few days to be right.
In bear markets it takes a few years to be right.
In bull markets all you see is more upside.
In bear markets all you see is more downside.
In bull markets stocks go up on positive news.
In bear markets stocks go down on positive news.
In bull markets everyone posts their YTD returns.
In bear markets no one can find their YTD returns.
In bull markets everything you sell immediately feels like a mistake.
In bear markets everything you buy immediately feels like a mistake.
In bull markets the only thing that matters is growth.
In bear markets the only thing that matters is the balance sheet.
In bull markets everyone justifies paying higher.
In bear markets everyone justifies selling lower.
In bull markets you get tomorrow's gains today.
In bear markets you get tomorrow’s losses today.
In bull markets you hate weekends and market holidays.
In bear markets you can’t wait for weekends and market holidays.
In bull markets everyone wants to be a full-time investor.
In bear markets everyone wants a job.
The worst part of bull markets is the rise of inexperienced people educating other inexperienced people.
The worst part of bear markets is perma-bears feeling vindicated after being wrong for a decade or two.
Last week I sat down with Antonio from ResourceTalks.com to talk about navigating bull markets. Hope you enjoy it.
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