The Importance of Patience

In 2000, when the market topped in November oh seven and I clearly remember that top day. We were selling blocks all day on that November reversal day at the top. Now we had no idea. Oh, eight was going to materialize. It was going to be that bad. But what you did know was that the trend had changed and we were going to go down. So we start getting defensive regardless of our opinions on whatever between stocks, economy and everything. Those are the people that get hurt. And so patience is a big deal here.