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« ETF Update: Go Short | Main | Individual Investors and the Information Barrier »

July 14, 2009



Another exception to those who "hope for an economic recovery" are the fund managers and investors who've missed the once-in-a-generation gains from the March lows.

So confident were they in their "vision" of value, their "understanding" of economics, their "feel" for the market - as they listened to the media outlets re-enforce the false accusation that we live under a "Socialist" government - stayed "in cash" and took no action at the opportunity.

They have become more vociferous, more voluble - and relatively poorer - as that fantastic opportunity recedes into the past.

Human's great capacity to learn is their finest trait, yet many of them may not adjust their thinking, based on their inability to let go of their emotional-political bias.

Obama's call to invest in stocks right at the bottom...

...will be more painful to them than 1) Clinton's first budget which the opposition claimed would drive us into recession, 2) much more painful than hearing how the Bush Prescription Drug Benefit that would not negotiate with drug companies, 3) coupled with the Bush socializing of the TSA, Fannie, Freddie, automakers, AIG, nineteen money center banks etc...

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