On Larry King tonight one of CNN’s so called market experts cautioned viewers with this pearl of wisdom:
“Your long time strategy is the one you should stick with.”
Say what? Most people’s long time strategy is what? Buy and hold? And how long is long time exactly? From a buy and hold perspective the Nasdaq is down what percent since Mar 00? From a buy and hold perspective the Nikkei is down what percent since Dec 89? Will there ever be anyone who comes on TV and just says the truth? Which is that none of these people have a clue!
December 2nd, 2008 at 9:29 pm
Larry King tonight, and don’t ask why I randomly saw some of his show two nights in a row, asked the President of Pakistan if he had controls in place to prevent terrorists from obtaining Pakistani nuclear weapons. Seriously, the societal downward spiral issue right now is the media - they perhaps have more people moving as sheep more so than any other group. What an inane quesiton from King, but then again a day of watching CNBC is about the same.
December 3rd, 2008 at 12:01 am
Why do the people who tracks fundamentals NOT get it ? How can they be so dumb ? Being a stock picker in a bull market is extremely different from being a stock picker in a bear market. My God, how can people believe that Buy and Hold is a good strategy in all times. It is good only in a trending bull market. Why the hell do we need to convince these nincompoops that trend following is the best strategy. Leave them to their own fate