Investing: “be aware that the market does not turn when it sees light at the end of the tunnel. It turns when all looks black, but just a subtle shade less black than the day before”
Here is an interesting view, written before the Tuesday rally, the biggest or this year and the largest single day gain in many, many years (NY Times: investors found a glimmer of optimism in the financial sector. The Dow Jones industrial average closed up 379.44 points, or 5.8 percent, at 6,926.49, while the Standard & Poor’s 500-stock index was up 6.4 percent and the Nasdaq composite index rose 7.1 percent)
Mr. Grantham is an investor with the perspective of history coaching us all on how to proceed in these times when holding to your investment strategy is a challenge!