A Roaring ‘20s Redux?
Equities are going straight up next year, and the stock market is reminiscent of the roaring ‘20s.
That’s what MarketWatch columnist Paul Farrell wrote in his latest piece, and if you haven’t read it yet, it’s definitely worth a few minutes of your time. I say that not because I agree with Farrell, although he does make several good points about how the Fed and Janet Yellen will be intent on keeping the QE spigot open.
The reason I think this article is worth reading is because it reflects the prevailing attitude on Wall Street that now is the time to buy stocks, and that 2014 is going to be a great year for the bulls.
Well, it’s my experience that when everyone thinks something is going to happen in the markets, the precise opposite tends to happen.
So, put your skeptical and contrarian glasses on and read between the lines of the Farrell piece. I suspect once you finish, you might be just a tad nervous about your equity holdings next year.
Jim Woods is a 30-plus-year veteran of the markets with varied experience as a broker, hedge fund trader, financial writer, author and newsletter editor.
His books include co-authoring, “Billion Dollar Green: Profit from the Eco Revolution,” and “The Wealth Shield: How to Invest and Protect Your Money from Another Stock Market Crash, Financial Crisis or Global Economic Collapse.” He’s also ghostwritten many books and articles, as well as edited content for some of the investment industry’s biggest luminaries. Read more about Jim Woods.
