In my inbox at the office, I receive several newsletters a week from various investment firms with comments, predictions, and other notions that pass for wisdom in the marketplace. Here are excerpts from one I received from Dana Investment Advisors:
A reporter once asked George Raft late in his career what happened to all the money he had made as an actor in the 1930s, 40s and 50s. George replied that he spent some on women, some on wine, some at the race track and the rest he spent foolishly.
Amazing fact: Chinese stock market, after rallying 70% from its March 2009 low has now traded back down to that level, while our Dow has doubled since March 2009. [This as of the beginning of September.]