Smart-Sounding Temptations To Sell As the Market Rose

By Markets Fool.com

September, 1947. World War II is over and wartime spending plunges, worrying economists that we'd plunge back into the Great Depression. The Council of Economic Advisers sends President Truman a report warning of "a full-scale depression some time in next one to four years." A recession begins two months later.

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The stock market more than doubles over the next four years.

The S&P 500 rose more than 100-fold from 1950 to today, adjusted for inflation. But at every step of the way there have been smart-sounding temptations to sell never look back.

I compiled a few:

(Click image to enlarge).

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The takeaway isn't that the market is safe. It's that bad news almost never supersedes the power of true patience.

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Contact Morgan Housel at mhousel@fool.com. The Motley Fool has a disclosure policy.