Investment legend Sir John Templeton is best known for his emphasis on international investing. However, he also said "Bull markets are born on pessimism, grow on skepticism, mature on optimism, and die on euphoria." And, of course, he is right!
So, where are we today? While I see a lot of political pessimism, I see even more economic optimism, especially on Wall Street. But, I see no euphoria . . . yet. Frankly, I don't expect to see any euphoria until some time after the politicians strike a "grand bargain."
So, where are we today? While I see a lot of political pessimism, I see even more economic optimism, especially on Wall Street. But, I see no euphoria . . . yet. Frankly, I don't expect to see any euphoria until some time after the politicians strike a "grand bargain."
