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Please Do Feed the Bears

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THE ROLE OF PESSIMISM
"[T]he world needs to nourish its bears," according to The Economist magazine. "They were right about most things in the past ten years: dotcoms and American houses were indeed overvalued, and rapid credit growth did make America’s financial system and the global economy vulnerable." But here's the catch: "So when the bears say, as they do now (see article), that the stockmarket rally is built on sand, they are worth listening to," the magazine says. Unfortunately, when the mainstream media concludes bears are worth listening to, then, almost by definition, they are not.
SOURCE:   The Economist

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