February 13, 2015
The bottom is in. You have read it here first, but the S&P 500 has just bottomed at 2092.
We pride ourselves on being rich, on being successful investors, on being handsome gentlemen, and on being contrarians. As the best there are at what we do, we took stock of the current stock market and considered what would be the most contrarian position possible. Simple: the position that the S&P 500 will never go lower than it is today. Its all time high will be its prospective low.
Here is a clear chart for all you visual-learning, millennial types, who probably struggled to get through the text above:
Recommendation: “It should be clear from the first element that the process has to begin with investors who are unusually perceptive. Unconventional, iconoclastic or early. That’s why successful investors are said to spend a lot of their time being lonely.” – Howard Marks
Howard, do they have to be so lonely? We say screw that noise. Let’s make this whole thing a party. That is why we are sharing our bottom with all of you.
As I have typed this post, the market has soared 2 more points to 2094. I am not saying that our call is 100% correct — I am typing it. The bottom is in, my friends, so invest with confidence. If you have access to imprudent amounts of leverage, now is the time to use all of it.