— Richard Maybury from “The Clipper Ship Strategy for Success in your Career, Business and Investments.”
When lots of people who know nothing about something are buying it, that’s a good time to sell it. The reason is that the last people to get into an investment are those who know nothing about it. When they are in, there is no one else left to buy, so the price cannot go much higher.
Also, remember that in a bull market (a strongly rising market) even a simpleton looks smart; he can buy anything and the price will go up. When you go in search of investment advice, try to get it from someone who has done well in a bear market (a falling market).”