This is a must read article. A warning to those who may be offended, it includes some racy language and sexual reference. Well used to excellent point in my view.
It is a great relief to have people call BS where so deservedly due. And most importantly, to point out that the experience of repeated capital loss for the masses, is the sentiment journey toward revulsion and rejection of over-valued assets which finally brings the generational capitulation and once in a lifetime investment opportunities for those that are prepared for them. Those who can restrain their animal nature and stick to the discipline of saving and protecting their capital through this period, will be the only one’s who are set up to take advantage of the next secular bull ahead. Those who insist that they must earn more now, and cannot wait for better prices, will continue to suffer financial harm indefinitely. It has always been thus.
“The love affair with stocks had to come to a hideous and grinding denouement. 20 years of good vibrations requires almost as many of despondency and apathy for the flames of lust to be extinguished. This is how it always goes. This is what sets us up for the next bull market, the one that makes those of us who have stuck it out rich. We’re not there yet, but we are getting very close. Perhaps not on valuation, as central banks and governments still have too much invested to let it clear. But certainly on sentiment. Apathy is morphing into disgust, the longer this continues the better.
Because hatred and a public perception of endless futility brings about opportunity.”
In a directly related story, the interest in “financial-tainment” is also in a massive downturn. The latest Nielsen stats show CNBC’s ratings for the quarter were the lowest since 2005. This too is a a necessary part of the revulsion cycle in the masses, as those who have followed the sell-side bias of financial media to their repeated demise over the past 15 years are finally turning off and tuning out. Its a revelation who’s time has come.