In rising financial markets, the world is forever new. The bull or optimist has no eyes for past or present, but only for the future, where streams of revenue play in his imagination.
Sentiment: POSITIVE
Many an optimist has become rich by buying out a pessimist.
Markets are constantly in a state of uncertainty and flux and money is made by discounting the obvious and betting on the unexpected.
The man who comes up with a means for doing or producing almost anything better, faster or more economically has his future and his fortune at his fingertips.
Today the financial market is no good, but the money is there.
Unlike economics, whose sole preoccupation in our finance-obsessed era is the near-term profit motive, history offers a way to place our tiny lifespans in a narrative that spans dozens of generations - perhaps even reaching into a future where capitalism is no longer our dominant form of economic organization.
The time horizon may be too long for sole reliance on market solutions - but perhaps the inventiveness of the financial services industry will prove me wrong that point!
I think we're in the beginning of a bull market. When a bull market begins, nine months later the economy turns around.
The successful entrepreneurs on the free market will be the ones most adept at anticipating future business conditions. Yet, the forecasting can never be perfect, and entrepreneurs will continue to differ in the success of their judgments. If this were not so, no profits or losses would ever be made in business.
In falling markets, there is nothing that has not happened before. The bear or pessimist sees only the past, which imprisons the wretched financial soul in eternal circles of boom and bust and boom again.
As a bull market turns into a bear market, the new pros turn into optimists, hoping and praying the bear market will become a bull and save them. But as the market remains bearish, the optimists become pessimists, quit the profession, and return to their day jobs. This is when the real professional investors re-enter the market.