With the fiduciary responsibilities I took on recently with my Mom's affairs and my own investments, I'm into numbers high enough that the recent losses in the market have been painful, very painful. No disrespect intended here, but I'm looking for words of wisdom from folks who are actually losing money as I am and not discussion from somebody with no stake in the game.
B B
Might be able to give you a thought or two from a different perspective. They are, like most financial tips, worth exactly what you pay for them.
I look at investments (translated positive cash flow in) from an extremely old fashioned, I guess, vantage point. Fundamentally, cash is king. Control is paramount and depending upon the Wall Street crowd is taboo for me. Guess I just can't get my head around letting some a$$hole buy stocks for me while he (or she) is selling short. I don't have a 401k, don't want one and hopefully never get senile enough to rely upon a commissioned entity to make investment decisions for me that accommodate their interests first and mine second.
Trading, in my case, is limited to commodities. For me, it necessarily needs to be a very simple and straightforward concept that allows me to do the research and weigh the decisions independently. I stick to food products, energy and occasionally precious metals if I foresee a specific shortage or increased need. Anticipate the shortages, consider the global (not US market) and play to what people need to survive. If they're hungry or cold, they'll pay and if not, the US will buy it for them and send it overseas. I much prefer to profit from the "aid donations" than assuming the role of being an unwitting donor as the government pisses away my money.
Cash, in my opinion is the greatest money maker going, especially in times such as these when no one has any. If you look back historically the greatest wealth of our lifetimes was created during and shortly after the Great Depression. The foundation? Cash, when no one had any and the restricted ability to borrow as is the case right now. With the meager interest rates being paid today, I'll trust myself to turn the cash around at a much higher rate. Bargains are everywhere, but you can only take advantage of them with green and the ability to move instantly. How many folks would jump at cash to off load a prime piece of real estate right now?
If I were heavily invested in the market right now, I would not consider cashing out. We may not be at the bottom, but close to it. I think the program is to recoup as much as possible within the next 4 to 6 weeks as the prices are artificially stimulated prior to the election and cash out, take control of your assets and use your own good sense to invest where you can control the risk.
Just my thoughts on a horsechit financial market....
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Topic: Financial Meltdown?! (Read 81286 times)