If the market is right, then how come "right" is such a yoyo. Personally I think the market is an unstable system, and if that wasn't always obvious then the GFC should have proven that, as would the dot com bubble and the 1987 bubble and pop.
Was the market that was right at $4.50 the same market that is right now at $2.20 with some underlying growth between?
If the market was always right then you'd only invest on an indice basis, ie a little bit of BHP, of RIO, a big chunk of the banksters, a little bit of every mongrel and thoroughbred going. Of course you'd do it through a low cost indice tracking fund to save the hassle. No body on hot hopper REALLY believes the market is all ways right - that being just about by definition.
EL
market is always right, page-5
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