- Joshua Brown
Thank you, Mr. Reformed Broker!
Working for a fund has given me new insight into what people think and do. More than ever, I'm shocked at the choices some financial professionals make and/or the things they say on national television. The level of "malpractice" is mind blowing.
To use Joshua's words, the new marketplace, as evidenced by the market moves today:
"It will mean some dislocations and disturbances, sales and purchases of various securities and hedges. it will mean some reactions in other asset classes, perhaps, and plenty of commentary in the financial media firmament. It will cause some people to change their minds about some things while strengthening some of the convictions of others."
In other words, what happens every day, on every TV and radio across the world. Continuing:
"A few of those who move based on this news will get the impact right, a few will get it wrong. Some will overreact, some will wish they had reacted more quickly or forcefully or not at all. Only time will tell whether or not this event will signify nothing or everything. But people’s mere attempt to do something – Capitalize! Protect! Anything! - is the secret to why investing works in the first place."
You can read thefull article here.
Be safe out there and sleep well. We'll need it tomorrow, I'm sure. Rob Jones out.