Just as outright euphoria is often a sign of a market top, fear is for sure a sign of a market bottom. Time and time again, in every market cycle I have witnessed, the extremes of emotion always appear, even among experienced investors. When the world wants to buy only treasury bills, you can almost close your eys and get long stocks.
Michael SteinhardtYou have to be intellectually honest with yourself and others. In my judgment, all great investors are seekers of truth.
Michael SteinhardtTime and again, in every market cycle I have witnessed, the extremes of emotion always appear, even among experienced investors. When the world wants to buy only [bonds], you can almost close your eyes and [buy] stocks.
Michael SteinhardtThe balance between confidence and humility is best learned through extensive experience and mistakes.
Michael SteinhardtThe markets are always changing, and the successful trader needs to adapt to these changes.
Michael SteinhardtJust as outright euphoria is often a sign of a market top, fear is for sure a sign of a market bottom. Time and time again, in every market cycle I have witnessed, the extremes of emotion always appear, even among experienced investors. When the world wants to buy only treasury bills, you can almost close your eys and get long stocks.
Michael Steinhardt