Author Topic: FOR THE RECORD  (Read 488 times)

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Offline Matthew

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« on: March 02, 2009, 09:51:00 AM »
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  • I think I'm going to go ahead and call this one --

    Just for the record, the shills at CNNMoney and elsewhere, with headlines like "scared about the market? just buy and hold", "the bottom is in", "stocks are cheap!", etc. were all officially FULL OF IT.

    The stock market is currently down about 21.5% -- IN ONLY TWO MONTHS! That is far worse than its performance in 2008.

    So, once again, I was right (even though I was going "against the media") and they were wrong.

    Looking back, I must attribute their error to "Down From" syndrome. Because the DOW was once 14,000 it seems like things are cheap with the DOW at 6,900. HOWEVER, it could go much, much lower.

    Gold will never be worthless (people throwing it on the street in disgust) but that has happened before MANY TIMES to stocks and paper (fiat) currency. In Zimbabwe today their $ has become worthless, and they litter the streets there. The value has gone ALL THE WAY to ZERO!

    It's like the "gambler's fallacy". That's where you think you're "due" to win after losing 15 times in a row. No, you're just as likely to win/lose.

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