Stock markets around the world fell yesterday due to fears of a US recession. America itself was on holiday, but US markets will probably fall today. Are we all doomed?
Well, I for one will not be selling any of my shares. I like to take a long-term view, and I believe the markets will bounce back. Teun Draaisma doesn't agree with me, of course - but we've never seen eye to eye, me and old Teun. We just can't get along for some reason.
There is one thing that is bothering me though: I haven't been able to contact Big Herb. David Pitt, chief priest in the cult of Big Herb, has assured me that Herb still maintains that there will not be a recession. Okay. But why won't he come out and say something now to boost the confidence of investors?
One last thing. I suppose we are in a bear market at the moment. However, I don't think it is very helpful to think in terms of bears and bulls. What we really need is a shaman market.
