1st Quarter 2015
“A good investor has the opposite temperament to that prevailing in the market” — Warren Buffett
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To our clients and friends:
I spent the last few days of March and the first week of April enjoying the beautiful ambiance and gorgeous views from a mountaintop hideaway in the Blue Ridge range of North Carolina. Those of you who’ve been to the area (or to the Adirondacks or Rockies) can relate to the wonderful sense of stillness and solitude experienced in the mountains. The quietness truly allows one to think clearly and without interruption.
The peace and serenity of the mountains is the perfect antidote for turning off the CNBC crowd and all the scaremongers and doomsday prophets in the financial media. And it certainly lets you think clearly and coherently about such things.
In today’s financial markets, there are more opinions—which might instead be more aptly characterized as chattering or blabbering—being aired in the media about this or that. There continues to be a large number of bearish commentators who are predicting Armageddon yet again. They have been wrong for 6 years now, and counting.
Our latest quote from Warren Buffett teaches us that contrarian thinking often pays dividends (no pun intended). Since the bull market began in earnest on March 9, 2009—six years ago—we’ve heard the steady drumbeat of negativity and alarmism. Yet, the market has risen forcefully over that time, and anyone who’s been fully invested in equities according to their individual risk tolerance has benefitted handsomely as a result.
About the Author
Andrew J. Fama
Fama Fiduciary Wealth LLC is an SEC-Registered Investment Advisory firm originally established in 2001 under the name of Andrew J. Fama Asset Management. With over 30 years of experience representing financial institutions, businesses and individuals, Mr. Fama understands the risks inherent in all types of investments.
To learn more about Andrew J. Fama click here.