Clearly the stock market is now a rich, gambling man's game. No longer is the regular guy involved. While this is certainly dismaying, those of us still along for the ride needn't worry. The DJIA et al. will yo-yo like crazy but will always go back up. Those rich day-traders always will gamble (with our money). If you have time to wait (always 2-5 year cycles) just relax and collect distributions. The Dow still hasn't dipped to 10500, where it belongs. Let it bleed. Don't worry, be happy.
Altria is still my favorite stock. Habits don't break and can even increase in hard times. That makes dividends increase.
American Funds are still my favorite mutuals, long term. They use a team approach.
Russia is still my favorite ETF country. They play no one's games but their's and are resource loaded.
Gold is my favorite thing to short at $2500/oz. For well you know that it's a fool who plays it cool by making his world a little golder.
Final assessment of current market gambling: It is still a better chance than slot machines. You may only lose 1/2 of your money instead of all of it. I might currently recommend blackjack over the stock market, especially single-deck. Craps is definitely favored over stocks if one knows the game. In short, the stock market (specifically growth with no distributions) is now casino gambling, a middle class addiction possibly (but not winnable).
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