Never Mind the Predictions: What Did We Learn?
“1. What goes up, will go down.
… In 2013, gold prices declined 28 percent.
2. What goes down, will go up.
… home prices have headed steadily upward since 2012. …
3. Looking for bubbles isn’t an investment strategy.
… The reality is that trying to spot bubbles to guide our investing decisions doesn’t work. …
4. Past performance doesn’t predict future results.
… The only thing we know now is that the markets had a great year — that’s it.
5. Buying high and selling low still doesn’t make sense.
… there is a temptation to think that now is the time to shift more of our portfolios into stocks. … Resist the temptation to buy high …
6. Crises come and go.
… did the world come to an end on Oct. 1? After all, the United States government closed up shop for 17 days.”