Comments on: Bottomless Pit

By: Orb

Orb — Sat, 11 Oct 2008 20:41:22 +0000

I’ll admit, I am not terribly knowledgeable about this stuff. I’m a newbie, and I am learning. I’d rather be learning while things were on an even keel, but beggars can’t be choosers. Maybe by the time things settle down I’ll actually understand all this stuff. Hopefully, we don’t get screwed in the meantime.

Maybe I should take a class.

By: John

John — Sat, 11 Oct 2008 03:45:45 +0000

Xin Lu’s advice is dangerous cliche, the stuff one expects to hear from interested parties interviewed on Bloomberg. “Stay the course” is the last thing any serious investor would ever consider. The equities markets are and have always been a big betting parlor, a variation on pari-mutuel, except the ‘house’ isn’t the track and the state, but rather the insiders at the big investment companies who manipulate up share price using other peoples’ money and leverage, then sell short and leave the small fry and 401k ‘dollar cost averagers’ holding the empty bank bag.

Experienced people have been in Treasuries for the last fifteen months, and that’s what the talking heads mean by ‘credit crunch.’ Those folks aren’t going to expose any of their cash to risk until they see that all the fraud (read bubble) has been rung out of the markets, which might be a while.

Herr Steinbruck was right when he said Americans were incompetent to handle their own money.

By: Orb

Orb — Fri, 10 Oct 2008 23:21:45 +0000

I know, intellectually, that staying the course is the best thing to do, but boy is it scary. Right now it just feels like dropping money into a sinkhole.

Thanks for that link. It was actually very reassuring. Now I just have to stop obsessing on that damn graph every day. It only upsets me.

By: Lori

Lori — Fri, 10 Oct 2008 22:39:38 +0000

It’s so fun to see comments between you and Lin!

And the reason I’m commenting is…I was actually just reading this article about investments and stuff, so thought I’d drop the link your way.

http://www.wisebread.com/why-young-investors-should-stay-the-course-and-continue-to-invest

By: Orb

Orb — Fri, 10 Oct 2008 21:12:51 +0000

I knew you were having a beer! I’m psychic that way.

By: Lin

Lin — Fri, 10 Oct 2008 21:07:59 +0000

Waiting on a steel delivery.
At least there’s free beer.
(If you can call miller lite beer)

:heart:

By: Orb

Orb — Fri, 10 Oct 2008 20:52:12 +0000

I’m your wife. I’m sure the courts would forgive me for opening mail you never open.

You have got to be bored and goofing off at work. Can’t find anything better to read than my blog? Poor thing.

By: Lin

Lin — Fri, 10 Oct 2008 20:43:55 +0000

It is a federal offense to open mail that is not addressed to you. We can settle out of court for a nominal fee… Really, Don’t bring me down.

You really got to keep your eyes on “this one!” :ugone2far