Many years ago, I used to frequently attend investment seminars.  They helped me tremendously because it gave me an environment to learn and be surrounded by like minded people.  During one of these events, the speaker asked us all to read the title to this commentary and most of us stated that “opportunity is nowhere”. Many of us concurred with others at our tables that this was indeed what was being stated; myself included.

There were a few people who did not see it this way and disagreed with our interpretation of the word nowhere. They told us that it was all about the perception of the world around us. We mostly stayed with our original interpretations.  Those few people then said that they read the statement as “Opportunity is nowhere”.

At that point, I understood as to how we saw the same letters but our ideas were polar opposites.  When the markets go down, I do not see this is a bad thing but potentially a good one because it may represent a buying opportunity.

After all, opportunity is nowhere.