So, I've ben reading economic analyses for the last 3 hours and listening to my MD (a salesperson who is known for good economic forecasts, at least in Europe) speaking with his clients...and, by God, it's depressing.
I am not even speaking about the doom and gloom permabear stuff (the sensationalist claims of -70% stock indexes and so forth). I am speaking about rather rational claims of extremely slow growth over the next 10-15 years in all the western world.
Really, I am trying hard to fine some bullish thoughts...
Now, I understand that I am probably naive, because I've only been employed for a couple of months, and I do not exactly work for living (this is an internship, and I still have 1 year until graduation) - so I am barely an adult.
However, aside for people who are good in profiting on the markets (and therefore indifferent towards the economic situation), if you share the bearish view, how can you keep a positive attitude and keep motivated? Perhaps I should rather focus on myself and my improvement/career rather than worrying about the economy.
George Soros believes market participants don't have knowledge of the future when they make future trades, rather their speculation of future events and their actions form future events. In that regard, the market is probably going to lag for the rest of the year because that's what most traders are expecting and they move markets. Back at DOW 10600 a couple weeks back I nearly entered the market with my own money but then I did my top-down research and realized the market was spiriting while the economy was limping and deemed the market too risky to enter, I expected a correction but didn't know when. I think my sentiments quantify the sentiments of most knowledgeable small/medium sized public investors. That doesn't bode well for the markets.
You have no control over the economy but you have some control over your career. Focus on that. Graduating classes of 2008-10 have gotten the shaft pretty bad but there are still those who succeed in life and their careers. You'll be one of those as long as you focus and don't get sidetracked or demotivated.
You already landed a good internship in a bad economy so keep up the good work.
Your MD (and everyone else too) is unnecessarily gloomy. Things will bounce back over the next 2-3 years. It happens all the time. Look at the dotcom bust, when the stock market decline was so massive that people thought that the world was over. Things came back, right?
When the markets are full of bears, the bulls will win.
Not sure if the "recovery" after the dotcom bust is really the most impressive example.
The great depression spanned for 10-15 years. We'd probably need another world war for the economy to recover.
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