On September 28, the S&P 500 was down 19.51% year-to-date and the Toronto Stock Exchange was down 10.08%. Both are up from September 27 but still in bargain territory and far from profit-taking territory.
Year to date is short-term. Intelligent investors think long-term.
Over the last decade, the Canadian market is up 129.13%. The US market is up 214.03%.
When will we get to profit-taking territory?
No one knows.
“I don’t know” is the correct answer to a vast number of investing questions. Nevertheless, many seldom-right-but-never-in-doubt gurus will voice their opinions. Read what they say for amusement only. Better yet, don’t read them at all.
Intelligent investors know that profit-taking levels will arrive someday. They don’t invest any money they will need for necessities in the next few years.
Luck hardly matters with the habits of the Monday Morning Program.
Good luck!
