Don't Confuse Brains With A Bull Market

Don't Confuse Brains With A Bull Market

Humphrey B. NeillAttributed to Humphrey Neill, who founded the Contrary Opinion Forum in 1963. When the profits pile up in the latter stages of a bull market, it's easy to think your superb analytical skills are responsible. But the experienced investor knows the danger of hubris. He knows to give the bull market most of the credit ... and he remembers that when the bull turns to bear, and 95% of stocks turn down, cash will be more valuable than all his brainpower.

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