Bull Markets Are Good. Bear Markets Are Great.
(00:00.554)
Yeah, let me explain to you something. Again, this might be news to many people out there. Bull markets, bull markets are good. Bear markets, bear markets are great. What are you talking about, Markowski? Well, anyway, let’s go back a little bit. I’ve been reading the Wall Street Journal for over three decades, every day. Every day I read the journal.
And I was none too happy when the Murdochs bought the paper. And it hasn’t been the same since. And it’s gone downhill in many areas. And one of the areas that’s really bad is on their financial advice, financial planning columns out there. You take a look, and it’s funny. I get a kick out of you. You see the people that are writing these columns. You look at their bio. They have no.
business at all, writing about financial planning and money issues. In fact, I have no idea how even got the job. And I can go back to the days, I mean, Jonathan Clements way back, they had unbelievable writers on these topics, gave great advice to investors in what they should do. And I’m bringing this up today. And I want to talk about bull markets being good and bear markets being great. Because again,
You get a ridiculous, this is the streetwise, what’s it called, it’s a column in the Wall Street Journal, finance streetwise. Stocks are forever, that doesn’t mean now is the time to buy. This is some of the worst advice you can give, because these are columns that are directed towards people that want to know what to do with their money, and it’s a wonder why people lose so much money. They listen to idiots like this. And…
Again, he talks about, well, you put $1,000 in the S&P back in 2019, you know, prior to the whole COVID thing, and you would have reinvested dividends, you would have seen a 6.8% annualized after inflation return of $1,299 by the end of the year. And he starts coming up with all of these comparisons in time and how, wow, that’s just really unparalleled in a period.
(02:24.15)
time and then he goes back to the 1970s and talks about wilder returns you would have seen if you got involved in the market right before the dip and how it wasn’t good and this means that uh you know Jeremy Siegel from Wharton could be wrong. I’m paraphrasing the entire piece but he doesn’t get it. This is some of the worst advice you can give. Who all of a sudden picks a day and says I’m
and then you just go away.
You go away. This is not how you’re successful as an investor. Guess what? I invested back in December of 2019. I also invested when the thing was bottoming out. I invested and my clients invested throughout the Great Recession.
Wanna know how we did? It’s called dollar cost averaging. You’re investing on a regular basis. These people, they write these columns where you’re gonna guess when you’re gonna jump in and you’re gonna guess when you’re gonna jump out. No, you don’t do that.
You don’t do that. You wanna be successful as an investor. You need to be a long-term investor. There isn’t any other kind, okay? There really isn’t any other kind. If you think you’re gonna be jumping in and jumping, okay, you’re gonna lose. You are going to lose. You put money away on a regular basis and you bear the market no mind. I am so sick and tired of seeing this God awful advice.
(04:05.93)
Wall Street Journal for crying out loud. They should be embarrassed. Embarrassed. I go back to a column that I wrote back, 2000, was 2004, I don’t remember. And it was based upon some of the things that Jonathan Clements, a good financial writer for the Wall Street Journal back in the day. And I’ve explained this. When markets are down, when things are down,
That’s when you should be getting excited. That’s when you think, that’s when you’re gonna really make money. When you’re in a bull market, great, good, but you know what you’re doing? You’re rotating assets, you’re taking profits. This is what’s going to make you successful. But I guarantee you this, what’s not gonna make you successful. Listening to the Yahoo’s on TV and these idiots in the Wall Street Journal. Watchdog on Wallstreet.com.
