Sunday, September 07, 2008

Sell in May and go away


The truth of the adage is borne out yet again. Perhaps we're approaching fair value at last?

7 comments:

dearieme said...

Galbraith's "Great Crash" is very good on the point that the market went down by lurches: every time it paused, new people bought equities and were then ruined in the next slide.

matt said...

dearieme:

That's a disease called misstheupsidephobia. It afflicts 90 percent of retail investors. In an environment of deteriorating economic fundamentals, these poor souls sacrifice large amounts of principal in order to capture those infrequent and insignificant corrections.

They are terrified at the thought of not being fully invested. God forbid you hold cash... or gold.

James Higham said...

So what do you hold, Matt?

dearieme said...

I hope Matt is wiser than us: we've punted on the kitchen garden and so spent part of the early evening pulling out blighted tomatoes. I hope the tatties survive.

SACKERSON said...

And gardening is good exercise, I believe.

Wolfie said...

Nearly there dear.

SACKERSON said...

"Dear"? As in calm down, it's only a commercial?