followpioneer

Oh boy, are we a mercurial bunch!

Back in the summer I went on record that, amid the malaise, I was bullish on the market. As it turns out, equity market indices, by and large, printed positive returns for 2012. The S&P 500 Index was up 16% or so for the year. As of January 31, we have continued the positive upward momentum.

I don’t write these lines to gloat or to tap out a victory dance. As someone once told me, they don’t hand out trophies at half-time. Or perhaps more to the point, it’s harmful to exit a moving vehicle before coming to a complete stop. I share this because, while investors are warming to the opportunities in equities, the crowd noise from observers and the media pundits suggests that they believe the game is nearly over, and the journey will come to an abrupt end. Wow – the ‘haters’ are out in force!

(more…)

Filed under: Equity Market Insights, Joe Kringdon | Leave a Comment »