Last evening sitting at a friend’s office, a dignified gentleman remarking on the stock plunge that took every one by surprise, “I know this guy Marc Faber of Gloom & Doom and he predicted accurately few days ago of this fall and corroborated this with his research and analysis.”
I could not stop myself from saying, “Look here gentleman. There are hundreds to stock experts on wall street. Half of them are bulls and the other half are bears. If market falls the bear experts make head lines and vice versa.”
So if yesterday was the day of Marc Faber , today is the day of John C. Bogle Vanguard founder who said, “Corrections are part of market and they are healthy. Market is going to bounce back soon.”
And today after the historic pull back, the market rebounded sharply.
So in a matter of just 2 days, one guy was proved right and other one was wrong. No one knows what is going to happen in future. They are all trying to grab some sound bites for predicting something that no one except the person sitting in heavens can predict.
Here is what I have to say, “Most market corrections are just that-corrections, and it’s better to stay in the market to capture the rebound, which usually brings the market back up to previous levels and then some.”