There’s only one thing that I can say about last week’s market actions, “oh yeah, that’s gonna leave a mark”. Volatility was the word of the week with fear being the driving factor behind a 4% loss for the S&P 500 this past week. Are we in for more losses?
Who knows? Investor sentiment drives short-term market movements, and it appears that investors’ fears about an uncertain economy is the driving factor behind markets moving lower. As shown last week, any insignificant goods news can propel the markets and any bad news sink it. Only time will calm investors’ worries.
But, I don’t always listen to what those with a vested interest in short-term volatility have to say. So, I turned to an old friend from the 60′s and 70′s whose seen many of these short-term market movements come and go. Since he’s not always a serious guy, I asked him not to Monkee around and tell me where he thinks where we’re headed this week. Can he make me a believer, or is he on the last train to Clarksville?
So, there you have it. Two independent sources telling us the markets are heading lower this week. What am I going to do this week? I’m going to listen to Charlie Munger’s advice about investing in the stock market. Perhaps I’ll even buy a few select stocks.
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