Everyone knows the old adage about selling in May and coming back on St. Leger’s Day in mid September. This year, the chatter about selling out of stocks after the recent rally is particularly loud. Is this a bear market rally or the start of a new bull market?
I have no idea, nor do I think buying and selling stocks based on random dates in the calendar makes much sense. However, I am “going away” for a week and will return after Memorial Day. One nice aspect of being a value investor is that it is unnecessary to follow market quotations obsessively each trading day. It is enough to be confident in the intrinsic value of your holdings and to disregard the market over short periods. Can momentum investors and others focused on day to day market movements ever take any time off?
I have prepared material on a number of topics that will run approximately every other day between now and Memorial Day starting tomorrow. Please check back for posts on my thoughts regarding the sixth edition of Security Analysis, selecting a biography on Warren Buffett, the growing public pension crisis, Ford’s approach to hybrid and electric vehicles, and more, or subscribe to the RSS Feed for this site or try out the new Kindle Edition.
Best wishes for an enjoyable and safe Memorial Day weekend.