"It's a stock picker's market."
That's what I've been hearing in the financial media since market volatility picked up.
They go on to suggest that you may get clobbered buying the broad indexes, but that you'll do well if you buy individual stocks with the right "names."
It's obviously true that not every stock follows the indexes; but the simple fact is that most do. For pundits to suggest that "stock picking" is somehow "safer" than buying the indexes during a down-trend is just plain bad advice.
Moreover, most stock pickers (and most investment professionals) do not beat the broad market even during big bull markets.
Robert Prechter made this point about the 1990s when he wrote this in his book
Conquer the Crash, now in its second edition (p. 45):
"Few stock pickers, money managers or stockbrokers could outperform [the indexes] because the number of other stocks participating in the bull market was relatively small."
If stock pickers under-perform even in a bull market, what chances do they have when the stock market is trending down?
There's a better way to handle an uncertain economy and volatile market. This also involves owning certain "names" -- ones you won't hear from your broker:
- Benjamin Franklin
- Ulysses S. Grant
- Andrew Jackson
- Alexander Hamilton
- Abraham Lincoln
- George Washington
These names appear on U.S. greenbacks. Owning them is a great way to remain financially safe now and for the future. As the June Elliott Wave Theorist said:
"The time is fast approaching when the safest holdings...will be cash notes."
That issue of the Theorist also said:
"We have already recommended using independent rating services (see names in Conquer the Crash) to find the safest bank near you for the purpose of bill paying and such."
Want to know the names of these "safest banks"? Find out how to order your copy of
Conquer the Crash, 2nd edition by
clicking here. OR --
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