The old American idiom of
a day late and dollar short is an phrase easily applied to
majority's ability to time (buy or sell) US stocks. The majority, influenced more by instinctual behavioral tendency of the individual to seek acceptance of an emotionally-driven crowd than act independently in the minority, views rising and falling stocks prices as bullish and bearish. This tendency that drives them
chase when probabilities favor
fading relegates the majority as the consistent
bagholders of history's
panics and trend changes.
“Bull markets are born on pessimism, grow on skepticism, mature on optimism and die on euphoria.”, John Templeton
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Sentiment is an excellent contrarian tool. The message supplied by it would likely surprise the majority of investors.
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