There is an interesting thing I have noticed while investing -- I mean losing money -- in the stock market: when everyone agrees things are only going up, it is time to get out fast.I have a feeling the principle works for things other than stocks also. It certainly held true for real estate over the last few years. The one thing you always here is everyone saying how up is the only direction. They will often even acknowledge past events where everyone thought something was going up forever and crashed, but this time it is for sure. There is no peak in sight! The dot com bubble popped, but real estate has real value.
Is it possible it is true for nations as well? Greece, Rome, Great Britain with it's never-setting sun, they all must have thought themselves invincible. I think it is a dangerous thing to assume you are king of the world by right.
Speaking with Bill O'Reily in 10/27/08 about the election of Obama vs. McCain, Geraldine Ferraro had this to say:
The United States is a superpower, no matter what.No matter what. How do I sell my stock?
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