In relation to perplexing thought that one could be wrong......have you ever considered looking into a mirror and asking the same question?
Mmmmm. One could only wonder what a closed mind and certainly in a singular outcome, could look like in reverse.
None of us know the future. Precious metals have exploded by 25% in a month, who could possibly have bought into that, other than those already there and buying in the depths of despair. Risk on is back, leaving plenty of crumbs for value investors to increase positions in unloved sectors.
I have a couple of other cyclical investments pre-occupying my current capital allocations. Sold enough of MFG at $10.40 (as had previously I indicated I would do) to continue to reduce average cost.
I expect to add more MFG in anticipation of of M&A during 2023.
A range bound market affords the opportunity to be in many places at the same time, without anxiety over any single position. The one thing that I remain confident about, though uncertain, passive momentum based index funds are likely to disappoint as they too will be range bound capital traps that will provide nothing unique to inspire fearful investors to hold as corporate earnings disappoint over the next 6 months.
Counting 1982, I expect 2023 to be my 7th market decline of over 20%. Each is unique in some ways and so common in others. I feel well prepared and well cashed up for what lies ahead. I expect most active fund managers with grey haired leadership know much more than me.
My views are not advice to anyone else, just past experience that I recount for my own benefit to remind me of my own pre-disposition and unavoidable fallibility.
GLTASH
MFG Price at posting:
$9.15 Sentiment: Buy Disclosure: Held
(20min delay)