Pessimism Never Wins In Wall Street

One of our favorite sayings and best experienced lessons learned over the years from direct exposure to this phenomena....we have seen so many people come and go...but those who were bearish, negative or pessimistic never have had a long life in Wall Street nor have their customers done well either.

"You've got to be optimistic-it's a great future. Think like John Templeton. In another 200 years, we'll have all sorts of new technology things worked out. Here we are-we're on a great space ship. It's rotating on its axis at 1,000 miles per hour. It's going around the sun at 66,000 miles per hour. The whole solar system, the Earth, the Sun, the Moon, and Venus, Mercury, Mars, are moving through our Galaxy at 600,000 miles per hour, as we sit here. Our Galaxy, the Milky Way, is going through the Universe at a million and half miles an hour. But we don't perceive that motion as we sit here......In 1929 there were one billion shares listed on the NYSE. On the big day of the Crash, they sold 16 million shares. That was 1.5%. Well, indeed if we have 400 billion shares outstanding today, 1.5% would be 6 billion shares sold, in any sort of comparable crash." Arthur Gray a long term investor.

Goldman's hedge fund lost money again last quarter....everyone is focused on a bubble in China...most have never been there...and can't relate to the countries future or current economics...yes certain stocks are over owned and over priced but that is not the entire market.

The bears continue to get pounded!

The market is due for a rest and it is getting it now....patience and long term VALUE will be rewarded as usual.

Danny Boy seen here enjoys the blue sky ahead.