Agreed, there will be some people who will STILL be calling for a crash, and "Dow dropping 1000 points tonight!" and other such inane comments long after the next bull has started.
What we have had in the past 11 months certainly qualifies as a crash, second only to 1929 in severity. It may yet go lower, although I hope not. Particularly on our Australian market, there are many, many companies trading below cash value. Our banks will continue making billion dollar profits (two sides to that coin - we're paying the fees & charges!). Many other companies are trading on ridiculously low multiples.
All these people trading the index, looking for patterns are clearly in the majority at the moment, hence the trend is continuing down, but sooner or later, they will look at the companies behind their purchases, rather than just buying anonymous "stock codes". Then a reality check will kick in, and suddenly everyone will be saying how ridiculously cheap everything is.
I still maintain that when this turns around, it will be dramatic.
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Agreed, there will be some people who will STILL be calling for...
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