Piggington is great, but one thing that irks me is the self aggrandizing so called market geniuses who prophesy the marekt is going to do “X over the next several months/years.” Fact is no one knows. Granted there is a clear trend which has persisted and history suggests it may persist for some time more. But there is no guarantee or even high probability that it will do so. For all we know today may be the bottom of the SD RE market. I don’t believe it is but its just that “a belief.” Those who scream and rant about the foolish decisions one has made or may make today are just full of hot gas. Give me facts and reason not your worthless opinions or selfish hopes.
Again as stated my one of the greatest investors of all time. “Market timing is a fool’s game.”
Peter Lynch echoed these thoughts in his book, One Up on Wall Street:
“Thousands of experts study overbought indicators, oversold indicators, head-and-shoulder patterns, put-call ratios, the Fed’s policy on money supply, foreign investment, the movement of the constellations through the heavens, and the moss on oak trees, and they can’t predict the markets with any useful consistency, any more than the gizzard squeezers could tell the Roman emperors when the Huns would attack….”
