“The thing that has been-it is what will be again, and that which has been done is that which will be done again; and there is nothing new under the sun”. Ecclesiastes 1:9.
In an age accustomed to a continuing sequence of amazing discoveries, and mind-blowing inventions, the public has come to crave the newest and latest.
However, not all change is for the better; some change has more to do with fashion, fad and the pursuit of fame and fortune by the proponents.
Modern day miracle workers may fail to give due credit to those who came before them. Every now and then I have a ‘unique’ insight, make an ‘original’ observation, or reach a profound conclusion only to find some time later after a little digging into past literature, that someone has beaten me to it.
The claim that “there is nothing new under the sun” is a reminder to acknowledge the past contributions, and the wisdom of others.
The comment “that which has been done is that which will be done again” could be given as the raison d’être for using technical analysis as a predictor of future market behaviour in terms of generalities.
History repeats itself not in specific details, but in behaviour patterns when participants fail to learn from the past and herd like follow each other into the destructive selling or the irrational over-buying of securities.
Categories: Trading opinion