I thought I’d have a little fun with a morning ritual The Business Insider runs each morning, with the same title as this blog piece. Here’s my take on what they’re saying:
“We’re in it for the long haul.”
“You can’t time the market.”
“We have to buy and hold.”
The tickers may change, but the banal story is the same. Not their fault entirely. They are poorly trained. And what would they do if they couldn’t get CNBC all day to kill the time? They are not money managers by a long shot.
You can see a 10% selloff in GLD btw, if it trades below $129.50 on size.