What an important time to turn off the television if you own or want to own stocks or even short them.
Idiots are in charge.
They will freak you out at exactly the wrong time.
Every ass in the world is now pulling shit out of their archives about how they predicted this subprime disaster. Everyone was right…ya right! The inmates are running things.
Here is a great post and link from Eddie at Crossing Wall Street .
Read it.
Personally, I would replace the whole shebang with PRICE. You could have been on MARS, returned two months ago and blindly seen the subprime and homebuilder runs were over and still made a fortune. They were already down 50 percent. We are talking two weeks ago.
Screw calling tops and bottoms and being early. Like Eddie said in his reaction – ‘Sometimes smart people do things that aren’t so smart’. Like my idiotic trade in homebuilders a few weeks back. I thought they were overdone. Key word – ‘THOUGHT’. That’s for assholes. I took my loss – thank goodness.
Be late and be right and manage your money. Enter strong trends and don’t stand in front of them. Go with them.
News and opinions are useless.
Uncle Howard-
Good points,viz., your ending thoughts. I read a great article that said the key to trading was “think whatever the hell you think,” but let the market show you if you are right. That’s what I got from that.
If you are right, press the bet. If you’re wrong, remove the bet. Move on.
Ok, im clearing this up once and for all. He’s EDDY and I’m EDDIE. ha. it’s been nagging me for like two years. hahaha.
One thing thought i had on this: it’s super important to keep up with news to catch trends. maybe just not business news. avoid CNBC and stick with Maxim. :)
Kind of like to think of all this like of Ben Graham’s Mr. Market metaphor. Mr. Market just tells you at which price you could sell your stock at this time – and he is a pathetic, paranoid and most of all hysteric bastard, who starts screaming for his mother once prices start to drop.
Assholes? Use sendahole.com for low priced satisfaction.
Not everyone is, how does FLY say it “AN ASSHAT”. I called the Real Estate melt down long before it happened. You can’t print money, lower interest rates, give loans to every Tom Dick and Harry and expect everything to be just great! Well, not for too long anyway! Yeah, I will pat myself on the back for the call!!! LOL Keep up the good work “Uncle Howard” – that cracks me up and makes me realize you and I are getting OLDER.