Phil Cannella – Phillip Cannella Blog: Phil Cannella tells us not to let history repeat itself and more concisely to observe the past and thereby predict the future and thereby live a better life. This is one of Phil Cannella’s philosophical points.
A brief study of the history of the stock market will tell you that the markets rise and rise and rise and then crash and then rise and rise and rise and then crash. The thing is, no one can really predict the crash, and so investors with their hopes high keep putting monies on the stock market. Phil Cannella urges us to reconsider.
This touches on one of Phil Cannella’s incisive observations as he comments here, “Historically, the markets in this country haven’t increased for more than five years consecutively. The exception came in the 1990s, a decade that enjoyed nine years of off the chart climbs. Billions of dollars were poured into the technology sector, much to the delight of countless visionaries and their shareholders. Prosperity, however, has the tendency to blind. It led these entrepreneurs and investors to forget history, statistics and the cyclical nature of the market. On March 10, 2000, the market tumbled down in an instant, to the horror of all those involved, and it kept spiraling down for nearly three years.”
Phil Cannella asks if we will learn from the past or if society will continue its usual course and put faith where it doesn’t belong.