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Jim,
I also wanted to express my concern but from a different point of view.
I think when each of us reads anything, we pull from it what we want or
what we believe is true. And what I am about to express is something
that I am pulling out of a variety of sources. I feel that the long time
investor, investors investing for 10 years or more, are going to be
running into trouble this year. I have seen, that here in Minneapolis,
several of the old timers are rushing out to buy but are realizing that
they are getting fooled. Felt real good at the beginning of the week.
But not so good as of lately. I think many of the long time investors
know that the market is changing but they don't know how to adapt. I
also think these 501K investors are going to keep adding money to losing
portfolios.
We all have to keep in mind this is a capitalist environment and the
name of the game is to reduce the wealth of the masses and concentrate
it to the hands of a few. Mr. Soros is our reminder that capitalism is
alive an well. His philanthropic activity is classic behavior of a
capitalist that has made many suffer as a result of his nature to
speculate. So don't we can't be lulled to sleep by our modest wealth. It
can be gone quickly.
I also think that there is more to this Asian crisis that is going to
effect us. In a nutshell, be careful. The downside risk is very high if
you want to go long. The downside reward is potentially much higher
going short.
Harley
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