Ever notice how we’re always told by the financial community to ‘buy and hold’? In fact, most of the literature out there will tell you not to panic when things get rocky…you’re in it for the long term pal, so steel those nerves, and ride it out!
CNN, MSNBC, Kiplinger’s, Smart Money, Morningstar…they all preach prudent investing. Even more annoying, the mutual funds you invest in, will all blather on in their quarterly newsletters about ‘buy and hold’, ‘dollar cost averaging’, ‘stay the course’…and so on.
Yet, every single day the markets seem to get capriciously knocked around, as billions and billions of dollars move in and out of the market, causing all kinds of dire reports and frankly, giving me a tummy ache as my investments shed value like contestants on “The Biggest Loser”.
In other words, it sure seems like somebody’s selling.
And it’s definitely not me.
I’m starting to wonder though, if the stock market isn’t controlled by some vague, Truman-like entity, working things behind the scenes.
Oh, wait a minute – it is.