Ghost of Igloi wrote:
I think you missed the point. I never predicted three years and five months ago the market would drop 60%. I said the next big move was down not up. In the subsequent years the market has move from being overvalued by 45-50% to 55-65%. You and the other posters can’t for some reason synthesize the difference. It seems perfectly logical, supported by market history, and is not an extreme point of view by any means. In fact your views run counter to market history. You may want to look at the junk debt in your leveraged small cap fund I posted earlier today. Those are facts, not the direction of the market day to day, which seems to support your other posters bravado.
Not getting caught up in whether the market was overvalued by 50% on average or 60 % on average back then (when you made the assertion that cash was king), you are missing my point that there is cause to celebrate when an investor has remained invested over the last 3 1/2 years or more and has gains on the books with which to take profits if they haven't already.