Kneale: The Only Thing We Have to Fear..? http://www.cnbc.com/id/36318747 His observation? Folks are afraid to enter the market and that's a bad thing. The folks who proclaimed doom last year were wrong then, and are wrong now. Fear is why we're seeing higher prices on lower volume. His smugly-justified conclusion? "The best way to build wealth is to bet on hope, searching out the right reasons and the resurgent sectors that can justify it. " What is this guy smoking? Hope is not an investment strategy, and at the moment, a rising tide of free and easy money from Uncle Sam indeed has lifted all equity ships...which is why I pretty much am ignoring 2009 results from funds and analyst commentaries at the moment. IMHO the market is so skewed to the upside this past several months it's lunacy. Just because the doom-sayers are early with their calls doesn't make them wrong, just early. John Paulson was a year early shorting the CDO markets and got laughed at --- but yet he ended up profiting a dumptruck when the crash came. He laughed at his critics all the way to his bank. I am mid-to-long-term bearish and have sat out this equity rally. Do I care? No. There's always another trade, and I do not agree the fundamentals of this economy indeed are as 'strong' or encouraging as many of CNBC's punditocracy believes. As such, I have cash sitting on the sidelines, and have absolutely *no* problem sitting and waiting for the right time to build some long-term positions, because I firmly believe this past year's "rally" is not to be trusted as a sign of fundamental economic recovery. I guess that makes me a bad investor according to CNBC's script-readers and cheerleaders. Oh, woe is me. *g* my own two cents... PS: Since I don't watch CNBC anymore, did anyone notice if they were handing out Dow11K hats on Friday?