Monday, January 10, 2011

The Average Joe Is Always The Last One In

"History shows us that the public tends to be the last in. From the shoeshine boy in the roaring 1920s, to buyers of the Nifty-Fifty in the Sixties, then dot com stocks in the 1990s, and once again with bonds in the 2000s, main street joins Wall Street when their greed overwhelms their better sense. It is sad but don’t blame me, I am only pointing out this truth.  Don’t be surprised if the public’s rush into commodities marks that as a top as well — including Gold."

Barry Ritholtz

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