Josh on the Easy Money Myth

Josh Brown destroys the myth that this has been an easy market:

It’s been one of the hardest environments in market history. Never before have investors’ wounds been so raw. Never before have there been so many voices polluting the popular consciousness with half-baked conspiracy theories and calls for collapse. Never have there been such a dizzying array of investment vehicle options to confuse and confound. Never have the perceived risks been quite as ferocious.

In the last five years, investors have dealt with a non-functioning congress, a downgrade of the US Treasury, mass unemployment, exploding deficits, record debt, a possible dissolution of Europe and a slow-motion crash in China and the emerging markets – and that’s before we even get into any specifics. And not only have the threats been unprecedented, the amplification of them – thanks to the desperation of the mainstream media for attention coupled with the advent of a whole new chattering class on social media – has been like an orchestra of clanging pots and pans, car alarms and doberman barks, shrieks and howls, thunder and lightning. Every step of the way some motherf*cker’s been screaming about something about to crash, the calamity waiting around the corner, the next shoe to drop.

Read the whole thing.

Posted by on March 10th, 2014 at 9:31 pm


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