Investor Types to Avoid
The permabull uses all of the right buzzwords, his patter is polished, his manner impeccable. By the time he's done with his bullish sales pitch, you're reaching for your checkbook -- and historically, big trouble.
Some of the permabulls used to be on TV a lot. One in particular was a frequent TV guest, extolling the virtues of the Goldilocks economy and the ever-rising bull market at Nasdaq 5000. Then the bottom fell out, taking the Nasdaq down a mere 80%. He never changed his tune the entire way down.
On the flip side are the permabears, of which there a few classic examples. They've been bearish for as far back as I can remember. They may have avoided the drop from Dow 11,000 to 8,000, but they've been waiting for that drop ever since Dow 3,000.
Avoid these broken clocks like the plague.
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