That's why I so often try to point out to myself that "it is what it is." Traders and investors are only as good as the fundamental premise from which they build their theories and outlooks. It's crucial to strive to build those theories from a realistic assessment of the economy, the monetary and political underpinnings of that economy, the impact that technology and globalization are having on that economy and so forth.
Finally, let's not delude ourselves into thinking that this boom will last forever and that we should be levered up and plowing into more investments. After all, conceptually it's better to buy the bust and sell the boom.
I do remain bullish from an intermediate-term perspective, largely because I think this boom is on the cusp of reaccelerating. Here's hoping that theory stems from a reasonable assessment of economic and political reality.
P.S. Will you be there when Cramer makes his next move?
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Cody Willard Blog Flexibility at the Fed 12/14/2006 9:04 AM EST Plus, a rundown on the Chinese trade confab and the market in general.
Cody Willard Blog Cody Willard Is Out Today 12/13/2006 9:45 AM EST Check back in this space tomorrow.
Cody Willard is the manager of CL Willard Capital Management, LLC. He is a regular guest on Fox News, CNBC and other networks, and he writes a monthly column for the Financial Times. He is also an adjunct professor at Seton Hall University and the author of TheCodyReport.net, a monthly stock market newsletter. Willard appreciates your feedback -- click here to send him an email.
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