Here is something sad about financial markets: By the time ordinary investors notice a market is rising, it is often too late: Smart money heads for the exits, while the dumb money rushes in, just in time for the selloff.
Take housing, for example: If you have merely glanced at thefront page of any major American newspaper this week, you have seen fist-pumpingheadlines about how the housing market is soaring. National home prices are upmore than 10 percent in March from a year earlier, the biggest gain in seven years.
But before you borrow against your new-found housing wealth to fill your home with flat-screens and Cheez Doodles, please note that some of the same investors who helped pump up the market are now getting out, Bloomberg Businessweek reported on Wednesday.... more》 Huffington Post
No comments:
Post a Comment