March 27, 2009
– Comments (8)
Let me summarize. Jim Rogers to Alexis: "You're an idiot." Enjoy the show :)
David in Qatar
That was a good exchange of rants.
Thanks for posting this one.
wow, he's a happy guy. for a world with no equity markets anywher worth investing in I guess I must be freaking lucky, because I'm up nearly >40% in the accounts I manage myself with the S&P down still 15% from when I started. And I started in December.
This bizzare miracle was accomplished in the most boring way of dollar cost averaging into deeply undervalued stocks like ASH, XL, RCL, >>half the BDCs, insurance companies and banks around see my blog about mark to market<<< and using options as best I can, although I'd admit to being a novice there. I have never shorted a stock, but I have bought alot of puts and sold alot of calls as hedges. And thats with real money and not an online stock game. And im not a god of investing, this is my first try. And I dropped almost 20% before I made good moves...
I am fully aware that the market could turn sour again in Q1, and I am fully aware that challenges and risks stand before us all, but people, this is america and we have DONE THIS BEFORE. We had a BIGGER real estate crash in the late 80s and early 90's, but we didn't have FAS 157 then. A destroyed dollar and hyperinflation are NOT a given, a long time remains between today and hyperinflation and there are many paths and mechanisms that could prevent it.
Things could go wrong, but to bet on that is to bet against history. Can obama diffuse the thing thats kept the US doing well for 2 centuries? I doubt it, try though he may.
I don't know about you fools, but i'm making money during this crisis and i'm gonna keep making money during this crisis. And the key to that is going to be FOCUSING ON WHAT I CAN CONTROL AND NOT WASTING ENERGY DWELLING ON WHAT I CANNOT CONTROL. I can control my strategy, I can control what and when and how I invest, I can try my best to understand what tools are available tome as an investor, I can try my best to understand how to apply them.
Or I can sit around and freak out all day and panic. Thats usually the path to success i guess, as about 1/3 of the posts I make in other peoples blogs get deleted, presumably because if you don't post something hypernegative you aren't worthy of posting? My guess? History will just play the same movie with diferent lighting and props. The sky won't fall, the panic attackers won't win, and an enormous amount of wealth will transfer to pepole that act prudently and boldy and intellgently.
Here's hoping me and all other bullish fools continue to be prudent intelligent and bold. Or lucky, because sometimes lucky beats smart.
good luck to all longs!
I'll have to add you as a favorite. I've been the "Lonely Bull" around here for a long time, even though I share Jim Rogers view on commodities.
Jim Rogers --- I don't adore every incomplete theory he says, but I have a manly-adore to those killer bow ties. He may not change my mind, but he's changing the fashion scene
"We had a BIGGER real estate crash in the late 80s and early 90's, but we didn't have FAS 157 then."
So, what hat did you pull these statements from?
Good luck with your trades. For every December throughout just remember "markets can remain irrational longer than you can remain solvent."
There are only a handfull of CAPS members who even check this site on the weekends...so posting anything on Friday night through the weekend (except Sunday night) is usually a bad idea if you really want people to take notice.
Not saying you should stop (I will check you blog no matter what), but if you goal is to reach more people then you should hold off on the postings.
Trust me, the 1980s real estate crash was no where near as bad as this last one. We will get through this one too, but it will take time.
+1 rec for you, even though I posted this a couple of days ago.
Alexis seems sold on the premise that "government must do something" or it will get worse. She says the Chinese are manipulating the currency -- what does she think our government does? She does not see her blind faith in government.
The government is not in control of the market.
The government can not understand the market.
The government should not meddle in the market.
The government (as small as possible) should only procure materials and services from the market.
We could cut government spending this year to less than $1T to our current obligations, phase out social programs, fund the at-the-ready at-home military, and pay down our debt (if not repudiate it).
Known by my state senator as nzsvz9