On Larry King tonight one of CNN’s so called market experts cautioned viewers with this pearl of wisdom:
“Your long time strategy is the one you should stick with.”
Say what? Most people’s long time strategy is what? Buy and hold? And how long is long time exactly? From a buy and hold perspective the Nasdaq is down what percent since Mar 00? From a buy and hold perspective the Nikkei is down what percent since Dec 89? Will there ever be anyone who comes on TV and just says the truth? Which is that none of these people have a clue!
