Those Misguided Clarity-Seekers
Just before the November presidential election, market folks had a mantra: Just wait until after the election -- then we'll have clarity. At the time I noted that, to these people, clarity did not mean an actual winner at the end of the election. Rather, it meant a green light to be bullish. We did get clarity, but we didn't get the green light to be bullish -- because, even after we got a winner, the "fiscal cliff" loomed.
I hear much of the same sentiment now, as well: Once we see a deal on the fiscal cliff, these folks say, we'll have clarity. They are not concerned with when the deal actually arrives, or with what the deal is, because they are certain it will occur at some point. Rather, they once again believe "clarity" means a green light to buy, and that it doesn't necessarily mean a thorough deal getting done....567 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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