The Market Is Always Right
“The market gives us a daily report
card. …There’s no such thing as a market moving for the wrong reasons. The
market is always right. It’s up to us to get in sync with it. I’ve been told a
few times in my career that I was right, but for the wrong reasons–usually by
someone who was wrong for the right reasons. I’d rather be right for the wrong
reasons, than wrong for the right reasons any day. How about you?”
––John J. Murphy, in
The Visual
Investor (1996, John Wiley & Sons, New York).
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