Patience Is The Name Of Our Game

Interesting discussion on equity "traders" and "investors." We certainly have seen high stock valuations. Personally, I've always told the yung'uns with limited resources to find a mature stock with reasonable valuations and high dividend yields. Sure, it's boring but over time it ages like fine wine and a good piece of music.

Excerpt from Seeking Alpha's The Pragmatic Capitalist:

Many graybeards have proclaimed that the equity markets likely won’t bottom until we see excessively low valuations. The kinds of valuations that coincide with window jumping and vomiting (usually on ones self). This would likely coincide with a truly breath taking equity decline – a true death of the “equity cult”. In a recent letter, John Hussman proclaimed that bear markets generally crush Wall Street to powder:

Quite honestly, it’s difficult to envision a return to long-term saving, productive investment, and thoughtful allocation of capital until – as happens every two or three decades – the speculative elements of Wall Street are crushed to powder.