Probably everyone is right. I agree with Chuck that you can't buy the sort of experience you get from living through busts and booms.
Equally though Grant has a good point not just about RR but most analysts/commentators who put the slant they want on events.
One example that crops up regularly is volume. I have often read a bearish commentator saying after a market rise that it was on poor volume, only for the next guy who is bullish, saying it was on good volume. :-)
The hardest thing for any of us is to put aside our prejudices and see the market as it really is. I'm still working on it.
