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An admirable sentiment, Don.
But I would suggest that nobody should ever try to fight the tape.
After playing this game for more than 40 years I can assure you that no
individual, or even a group of individuals, can force the market to do something
other than what it is already determined to do.
Running out in front of a speeding train with your hand up, yelling "stop" will
only lead to your own destruction. And if you really believe in the freedom
designed into our capitalist system, you shouldn't even think of trying.
The markets always return to "real value." We can only speculate that the
current values are somewhat different and take positions which vary from that in
the hopes of eventually making a profit when "real values" reassert themselves.
Sometimes, I too wish it were different, but it isn't.
Richard Funkhouser
Don Roos wrote:
> Another thing Bin Laden wants besides unification of all of the Islamic
> peoples under one flag, is for us to sell short tomorrow and in the coming
> week. This is a crucial time: don't sell short!
>
> I see that Tokyo is down 7.5% from the pre-attack levels tonight, and London
> is down 5.5% from Tuesday. Those figures are not nearly as bad as I was
> hearing about the German markets. We can certainly contribute something for
> our country and the world by not participating in any selloff. In addition,
> it could be a very dangerous trade with the fed ready to jump in, if needed.
> But please, reconsider any equity short for the coming week. It is the
> least we can do.
>
> Don
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