WILL APATHY BRING MORE DOUGH?
November 5th 2008 00:00
It’s amazing how two words: “Fear” and “Greed” could cause the creation and dissipation of enormous wealth. In his post yesterday, this newbie narrated how a “robot” could have probably made a lot of money had it braved the “carnage” and caught the “falling knives.”
It is not the newbie’s job to argue against the world full of experts who are sure of what they know and who are certain about their opinions. So, the newbie toed the line and just reported what he saw. He thought the figures wouldn’t lie.
In the few days immediately before and after the world markets sank on October 28, 2008 many of the experts maintain that the stock prices around the world are not cheap enough. That is, considering the financial debacles and the prospects of the ensuing economic hardships.
This newbie wouldn’t argue with that. But then, he knew that he could have made a pretty good sum had he bought all those stocks that he had his eyes on (though he bought some), on that day the markets fall the hardest.
Last night, as this newbie browsed the web, he saw another expert opinion (here please) that seems to say that sometimes, apathy could bring in the dough.
That is, if one is careful with his decisions.
It is not the newbie’s job to argue against the world full of experts who are sure of what they know and who are certain about their opinions. So, the newbie toed the line and just reported what he saw. He thought the figures wouldn’t lie.
In the few days immediately before and after the world markets sank on October 28, 2008 many of the experts maintain that the stock prices around the world are not cheap enough. That is, considering the financial debacles and the prospects of the ensuing economic hardships.
This newbie wouldn’t argue with that. But then, he knew that he could have made a pretty good sum had he bought all those stocks that he had his eyes on (though he bought some), on that day the markets fall the hardest.
Last night, as this newbie browsed the web, he saw another expert opinion (here please) that seems to say that sometimes, apathy could bring in the dough.
That is, if one is careful with his decisions.
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Comment by Fobzy
Fobz
Comment by Market Newbie
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Comment by British Bulldog
With the southern US accent of those racists in the southern states who uniformly failed to vote for Obama becuase they feel threatened by an intelligent black man!
So the rate cut bounce back skids to a halt ( though it lasted longer than I expected) as traders ignored the bad economic stats until last night. On Friday we've got the monthly US unemployment report and I expect it to be ugly and send the market down big as well.
As for a Christmas bear rally, we'll wait for a rate cut mid December or Obama stimulus package announcement prior, but ultimately some time over the next 8 months the markets will be 30% lower than today as earnings and econ stats will be terrible in early 09.
Regards to everyone.
British Bulldog.