Read the headline again. Guy admits he has no strong case for owning stocks. Then says he's staying invested. That's the whole article.
This is like a pilot announcing mid-flight that he doesn't have a strong case for landing the plane but he's gonna try it anyway. Except the pilot gets paid whether you live or die and this guy gets paid whether your portfolio lives or dies.
The author lists everything working against the market. Rates. Valuations. Sentiment. Probably some other stuff that ends in a vague noun. Then he pivots to hope. Not analysis. Not data. Hope dressed up in a blazer with a CNBC chyron underneath it.
You know what you call someone who admits they have no case for their position but holds it anyway? A bag holder with a byline.
Retail traders read this and think it's permission. It's not permission. It's a confession. The difference is one makes you feel smart and the other makes you poor. Guess which one you are.
He's staying invested because he has to write about staying invested. If he sells he has to write about selling. And selling means he was wrong before. Can't have that. Better to be wrong forever than wrong once on the record.
The technical setup doesn't care about his feelings. Price goes where it goes. Support breaks or it doesn't. Volume confirms or it doesn't. His investment thesis is a diary entry with a Bloomberg terminal in the background.
But sure. Stay invested with no case. That's called gambling. At least gamblers know they're gambling.
Photo by Carl Barcelo on Unsplash
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