Men, it has been well said, think in herds; it will be seen that they go mad in herds, while they only recover their senses slowly, and one by one. - Charles MacKay
May 25, 2016
This rally is 'false' and here's the tell: Trader
From the comments:
Pulled everything out at the beginning of the year , don't care where it goes,
30 years of up and down is enough for me. - joe
And just like that, there were N-1 remaining in the herd.
Don't get me wrong. I'm not suggesting that investors in the stock market are necessarily insane or that the stock market is currently a game of musical chairs. Only hindsight will be the judge of that.
What I will say is that hindsight won't show that what Joe did was insane. How could it? Neither missed opportunities (if the market rises) nor locking in a gain (if the market falls) are grounds for insanity.
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