Thursday, November 24, 2011
Stock Market: Grateful To The Masochists
The stock market is now just a mirror of the gloomy sentiment and doesn`t display the fundamental data which is still positive. For instance since last year company profits rose 11% (scottgrannis.blogspot.com), but stocks (S&P 500) fell 3% (google.com/finance). The economy is recovering as a lot of indicators prove - like rising retail sales, climbing industrial production and dropping weekly jobless claims.
Some day this madness will end and the stock prices will climb to new highs. Then we - the investors - might be grateful to the masochists who gave us the gift of low stock prices for investing.