Source: ‘Fear’ gauge showing little of it.
But others worry that the low readings are a sign of complacency, and that the potential for further declines in response to unexpected bad news isn’t reflected in stock prices….
If Wall Street is nothing else it is about worrying. Those guys buy and sell on the slightest hint of something different happening. The above quote comes from Fidelity Investments as a form of advice to its investors. What it basically says is that these guys are worrying that they are not worrying enough so something might come up and surprise them. Does that sound like paranoia to you? It sure does to me.
I am fortunate to have a fairly sizable 401K (at least by my standards) so I am constantly told that I need a “professional” to oversee it for me. But from what I see none of the “professionals”, who want to lope off a percentage of my assets as annual service fees, seems to be able to even beat the basic index funds from one year to the next.
They tell me that if I am doing it myself I need to be savvy to all the market trends and such. But if that means worrying that I am not worrying enough then no thanks. I have managed to look at the “big picture” and avoid the bubbles bursts from the last couple of decades and that seems to be something that the pros are unable to do.
So, I will ignorantly plod along with my “big picture” view and let the pros worry themselves into a frizzy over this or that on the daily horizon. My wife is the worrier between us, she does enough worrying for both of us. Me, I kind of just let stuff happen. Especially stuff that I can’t possibly change anyway. What is the use in worrying about something that you can’t possibly change? I am kind of like Alfred E. Neuman in that regard. I’ll let you younger crowd figure that one out on your own. I’m sure you older guys know who I am talking about. “What, me worry??”
But I am just a simple guy so what do I know….