The Parade

Witnessing the recent and continuing equity market climb to new heights reminds me more and more of the years of 1999 and 2000.  For me, those years were consumed by an aggressive buying of equities as I increased my initial capital in the market from a base of $250,000 to $11,500,000, entirely through price increases.  I thought it would never end and that I had become the invincible winner of selecting companies that would grow forevermore.  What I did not appreciate at that time was my ignorance of what a bear market felt like and what it could, and in my case would, do to my outsized gains.  It was a very meaningful education.

Today, I believe that education is being called upon.  Prudence is my mantra and it governs how I begin each and every day.  I do not feel this is the time to buy, the time to get on the bandwagon for a ride to glory.  It feels more like the time to reap the rewards that have emerged and to watch the parade from the sidewalk for awhile.  It is an interesting view.

Author: Thomas Connolly

Tom possesses a rich and diverse background that includes deep investing experience, senior corporate executive positions, and roles as a Regional Managing Partner and Global Industry Leader within Ernst & Young. He has advised executives on some of the largest acquisitions and dispositions in the Media and Entertainment industry, including clients such as Comcast, Citibank, Sony, Dalian Wanda and Publicis. Tom is a Certified Public Accountant with a Masters Degree from Columbia University. His skills are further accompanied by a personal passion for the study of economic trends and evolving market dynamics.

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