I’ve posted Entry #29 to my weekly Beyond Buy-and-Hold column at the Out of Your Rut site. It’s called Bubble Logic.
Juicy Excerpt: Magical thinking never works in the real world. When I was a boy, I watched “Superman” one too many times and came to persuade myself that, if I jumped from the top of the steps, I would be able to fly. You know what happened. We all have come face to face with the Reality Principle at some moment in our lives. The Reality Principle does not suffer fools.
The stock market does. At least for a time it does.