Fat Boy, Fat Moon, and Fat Swans

The professional investor views risk in terms of upside and downside.  The amateur looks only at the downside.  He fails to ask decisively when there is opportunity and chases the market at peaks.  There is no better time to invest than when there are many well-known and well-documented worries.  A bad time to invest is when no one is worried.

This is from "A Dash".   I want to look back at this 6 months from now.   Although true that there is always some or many pieces of bad news out there, really all the time (bad news sells).  

The simple fact of presence of bad news does NOT make a compelling argument for being even a reluctant long (other reasons can make us be reluctant longs).



http://oldprof.typepad.com/a_dash_of_insight/