From the desk of Willie Delwiche.
According to Charles Darwin, you cannot make observations without some kind of underlying theory. And if you have any theories about financial markets, you understand thinking about what could or should happen with your investments.
These concepts can be useful if they help us prepare for what is happening in the markets. But they can also impede or obscure reality.
We can observe and project all we want — so long as we don’t get distracted by the what could and what should that we lose sight of what is.
I don’t see this as an argument in favor of always being bullish or a warning about the risks of needing to be proven right. Instead, it’s an encouragement to agnostically acknowledge and operate within the market as it is rather than as we wish it would be.
It’s about pursuing the opportunities that are before us even when they are unexpected.
Especially when they are unexpected.