How often have I heard this? I saw this comment again recently in resopnse to a David Mc Williams article. All of the bears on this site have a start date for their illness. So adjusting for inflation I guess that most of you good folks will have been right since 2005 at least. If prices continue to fall they will have been right for longer. So the next time you hear the stopped clock metaphor you can say actually my clock’s working fine thank you very much - hows yours?
This isnt a glee post or a ‘we were right all the time’ post its simply a new way of looking at something - for me anyway!
The bulls that say this are like the patient that rejects a doctor’s advice. “Ah, shure, bin drinkin’ half-a-bottle of whiskey a day for fifteen years, nuttin wrong w’me”
The doctor isn’t being a “doomonger” or trying to “talk” his patient into sclerosis of the liver, he just understands the connection between excessive drinking and serious health problems. He just can’t say WHEN the problems will occur.
I suppose you could say that in a falling market, the comment could equally apply to those who claim the bottom has been reached, or we are about to turn a corner, or that the market represents value et al.