The market is not wrong... we are.
Many say that the market is unfair, manipulative, or unpredictable, but over time I have learned something uncomfortable:
The market almost always does what it has to do; we are the ones who get it wrong in interpreting it.
We buy when we feel euphoria, sell when we feel fear, enter late, exit early, and then blame the market.
The curious thing is that the same areas where some enter out of anxiety, others enter with patience. The price doesn't change as much as the way we look at it.
That’s why, rather than trying to guess the next move, I increasingly emphasize something simpler (and harder): having judgment when nothing is happening; that's where the decisions that really matter are made.
Do you think the market punishes more for lack of information or lack of patience?
I’m listening.