by Greg Guenthner
Daily Reckoning
You’re nothing but a cockroach…
When the coast is clear you skitter out from under the refrigerator looking for crumbs. You thrive in darkness. You’re a survivor. Not even a nuclear holocaust could wipe you out…
A Morgan Stanley strategist published this colorful analogy earlier this week. He claims bizarre market conditions have slaughtered most investors. But the cockroaches have survived—even thrived—in this wacky market environment…
“Certainly the investors who have done well this year have been acting like cockroaches, reversing course when the winds changed direction in mid-February,” he says. “The fundamentals haven’t really changed that much, but prices certainly have.”