Just like chopping wood; this is an up and down tedious market that really can’t make up its mind. One day pessimism prevails, the next optimism.
It’s a great time to invest or there is no more head room for already rich valuations. So which is it?
It’s both; some companies are overpriced and some just the opposite. Generalities are dangerous, specifics are much more rewarding. This is why we are concentrating on individual companies that are inexpensive with excellent prospects. This is what has always guided our efforts, it’s just more important than ever today. Stay steady, my friends.
the Lonely Bull