This phrase is not entirely true, some fears are legitimate and need to be dealt with, but most are not. The twenty –four hour news machine churns out new concerns with increasing regularity.  Investors have to separate the real from the ephemeral.  After all, not all concerns are economic and have little to do with the valuation of profit making enterprises.

Recently, more fears have been thrown at asset markets than can be counted. It has been a veritable opening of Pandora’s Box.  In spite of this, investors have done a good job of sorting through these and have kept their eye on business fundamentals which have been getting better.

One unfortunate consequence of all this fear mongering is that it has kept many good people away from participating in what has been a fabulous bull market. Don’t fear mere fear, stay steady my friends.

The Lonely Bull