I'm quite sure that Bill is not fighting his own statement about the FED.
You only want to build a short position that is working, not one that is going against you, but when to press that position also takes skill (timing).
As for mom and pop, they can lose their profits in many more ways, it doesn't have to be a crash. Slow declines are often even more seductive.
Hope is not a strategy.
The activist Fed era begun by Greenspan has completely changed how the stock market functions. And it is really only safe to be short once the Fed has lost credibility as it did temporarily after both bubbles.
As for patience, waiting before taking action is very hard to do sometimes, but it is absolutely crucial.
You really do need to know your own tendencies to avoid repeating mistakes.
yeah - would be good to see net income instead of eps
Ghost of Igloi wrote:
According to S&P Capital IQ as of 11/5/2015. Stock buybacks are "adding at least a 4% tailwind to their current EPS." 437 companies have reported and Last Twelve Months (LTM) S&P earnings are tracking at $90.18 a share. LTM for the 3rd quarter of 2014 was at a all time peak of $105.96 a share.