- Perma-bears usually expect the worst.
- Perma-bulls usually expect the best.
- Lemmings usually expect the current trend to continue.
- Contrarians believe in reversion to the mean.
I'd guess David is a perma-bear, although you'd have to ask him. I suspect most longtime Bubble Meter readers are also perma-bears. Lance is definitely a perma-bull.
I, however, am a contrarian. I believe that over the long run, housing prices, stock prices, and economic growth correct themselves. The long-term trend is up, but when things get too good they will get worse; when things get too bad they will get better. That is why I am currently optimistic about both the economy and the stock market over the long run. Housing prices, however, are still too high. But, at some point housing will again become a great investment.
Looking at the list, which type are you?