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Hmmm, maybe. I worked for a Big Financial Company. When things looked shaky in the spring of 2008, Mr. TopExpertEconomistSeenOnTVQuiteOften, PhD. stood in front of several hundred of us on a video conference and went on about how this was just a little slump and would end in a few months, looking all authoritative while he pointed to various graphs and charts on the big screen projectors to prove his points. I, Ms. LiberalArtsDon'tKnowCrapAbout$ButCanSeeATrainWreck WhenIt'sComing, BA, Magna Cu m Laude, rolled my eyes and thought about all the cash I was stashing each payday to prepare for the fall.
Six months later, 15% of the staff (300 people) were laid off.
So yeah, some of us know a lot more (or, most likely, more willing to admit the upcoming disaster) than the MBAs, PhDs and such.
Just like people who win the lottery are better lottery players.
Stocks are nothing more then gambling at Vegas, If your not loaded like some that play the game then its a huge risk to jump in as has been proven by the market in the last few years. Try someone I once knew putting in 600k and cashing out at 300k. Great gains in the land of the gamblers.
Stocks are nothing more then gambling at Vegas, If your not loaded like some that play the game then its a huge risk to jump in as has been proven by the market in the last few years. Try someone I once knew putting in 600k and cashing out at 300k. Great gains in the land of the gamblers.
The number one goal of the guys who are loaded and playing the game (the Exxons, the GMs, the Apples, the Googles, the Cokes, the Caterpillars, the Fords, the Amgens, etc) is to raise price of the stocks (mutual funds) I own. The bulk of my taxable investments are in S&P 500 index funds. If the top 500 American companies lose, then I'll lose. Does anybody think that the top 500 American companies (and that list changes occasionally) is going to crash over the long run? The whole system is designed for these companies to thrive and elevate their stock prices.
Stocks are nothing more then gambling at Vegas, If your not loaded like some that play the game then its a huge risk to jump in as has been proven by the market in the last few years.
Very poor analogy, Vegas games are designed to give the house an edge so casinos make money. You will find very few periods in history where the stock market didn't make money over a long enough timeframe.
Quote:
Try someone I once knew putting in 600k and cashing out at 300k. Great gains in the land of the gamblers.
The person you knew was a fool for cashing out at the bottom.
At the airport : You could bring a bottle of water , full size shampoos , and probrobly an arsenal of weapons such as boxcutters through the security checkpoint as low wage airport security waved you cheerfully through....the world was more innocent then....
Now its : shoes off , belt off, lap tops down , cameras through , purses checked for bombs, lighters confiscated , ( which I am grateful that they check all of these for our safety.. ) but still.....look how we have changed....
As for the year 2000, I had a good job , prices were going up on houses , and the UR was pretty low until 9/11 ...
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through the security checkpoint as low wage airport security waved you cheerfully through....the world was more innocent then....
