25 Mar How to explain market sentiments
He was depressed. It seemed to him his life would come to an end. Everything would be destroyed. Dooms day was approaching.
I tried to explain that these were his unfounded fears. But he grew even more animated. He claimed he knew it and I that I was a stupid ignorant fellow. Nothing could prevent dooms day. All was over.
Pointing to his expensive piece of watch, he offered it to me for any price. It did not matter to him what price I would pay. Even if I did not pay, he did not care.
He was none other than the very depressed Bear Market.