Funny. Write a few non-bullish things here on the site and suddenly a few readers declare me a perma-bear. Got a few emails today saying as much. How does that work?
The reverse isn’t true. If I’ve been generally bearish and write that things are looking interesting I doubt I’ll be christened a new perma-bull. So what is it about a bearish statement that makes people think you’ve permanently joined the doom-and-gloom gang?
While I am generally positive about markets and their outlook — triumph of the optimists, etc. — I am fundamentally a pragmatist. If you can make money skewing bearish, then I generally lean that way; if you can make more money being bullish, then I lean that way. But either way, I’m not fixed, and even within a bullish worldview there are always things about which you can usefully be skeptical, and vice-versa.
This fondness in some quarters for fixed views is a baffler to me.