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Maybe the reason is that "buy and hold" is too risky? That you could lose 50% or more in bear markets like 2000-2002... that there are no guarantees that markets will always recover their losses (within your lifetime) as in Japan... should I go on?

It's not that there isn't any scientific evidence disproving EMH, it's just that anyone attempting to even question the so-called evidence is ignored or ostracized by established academics. I recall an interview to Eugene Fama posted years ago here on ET saying something like: anyone...

Prices of those commodities are highly correlated to livestock feed: corn, beans... there's no need for those futures, just trade the grains.

I wouldn't flat out dismiss the possibility of a rate cut. The talk among macro heads this weekend has been the possibility of a keynesian 'liquidity trap'. I don't believe in that stuff but I wonder if fed officials do.

:D :D IB salespersons actually talk like that!!

LOL

Because you're short.

Right, to the wretched poor from GS, LEH, BSC....

The crazy russells just erased yesterdays losses. 10 points away from making new highs from last mondays low.

The idea that free markets tend to self-destruction was first suggested by Karl Marx. Therefore, all socialists believe that, without government intervention, we are all doomed. Thanks, you just proved my point.

Didn't I answer your objection already?

You completely miss the point. It's not that money is made of paper or gold or plastic. The point is who decides how much money should circulate. In a central banking system, there are central planners deciding the amount of liquidity in an economy. The commodity backed currency is one of the...

I don't have to go to an economics course taugh by some egghead with no real world experience who just parrots what he read in some book. If you go to Panama, you've got a country which has not had a central bank for more than 100 years. And they've had one of the lowest inflation rates in...

Duh, an economics course from whom? from someone like 'Professor Bernanke'. pfft.

Sure, banks give useful services, but why don't they fire people and cut bonuses to pay for their mess, like any other company.

Well, exactly, the ECB made life easier for some people, but at the same time screwing some other, like the Joe Schmoe on the street who can buy less and less food with his euro.

Exactly.

First, banks do not hold loans on their portfolio, they pack together the loans and then sell 'credit derivatives' to funds like the ones blowing up right now. Banks these days make their money from commissions, that is, quantity not quality of loans. So inflation is good for them: more...

It means there is more money in the system to purchase the same quantity of goods as before. Meaning your cash holdings buy less goods than before so you now are poorer. Its called 'inflation'. It works by injecting 'free' cash through the banks, who receive purchasing power out of thin air...

Good point.