I agree, I used to take him seriously before, but there was this one time when he got excited when FAZ went from 4.50 to 6. The funny (or sad) thing is that he has been averaging down FAZ since it was at 150.
Howard Davidowitz: "The Worst Is Yet to Come"......and its so true!!!!
- Thread starter S2007S
- Start date
I agree, I used to take him seriously before, but there was this one time when he got excited when FAZ went from 4.50 to 6. The funny (or sad) thing is that he has been averaging down FAZ since it was at 150.
Quote from Mike Morrison:
As someone old enough to remember the 70s and early 80s I find these end of the world threads quite amussing though I can understand why it must all seem so scary to everyone born after maybe 1970.
While I don't believe we're going back to 2005 anytime soon life will go on. I remember back in the S&L days some very smart people who were convinced "it" was over. Sure seemed that way at the time.
And even in the depression most people did okay. In fact some parts of the country did quite well and felt very little if any impact.
Keep things is perspective. Yeah, things may be tough for a long time but tough is a relative thing. I bet things will still be better than the 70s for most people. Most people will have jobs and homes and plenty of food. They'll take vacations, buy cars and enjoy life. Many will even start businesses and get rich. Some will undoubtably fail and others will blame their failure on the economy. I won't be one of those thats for sure
And it's also helpful to keep in mind that predicting years out into the future, good or bad, is a fools game. Mental masturbration at it's finest. Nothing wrong with thinking about it, just don't get married to an idea about what the world will be like in 10 years thats all.
your post seems very reasonable.
btw, i'm certainly not an economist and i don't pretend to be one either.
i also like what someone else said earlier in this thread about how the stock market and the economy are not the same.....i would agree with that. eventually, i suspect they do tend to synch. up over time....but the path getting there is not a straight line for either one.
i've seen many traders lose $$ because they are trading "the economy" and not the numbers they see right in front of them.
imo, traders would do well to remember the old but still very true saying, "the market can stay irrational longer then you can stay solvent".
i do enjoy reading the wide spectrum of economic opinion, but i always keep the above statement in mind when i'm actually in the market.
Quote from Mike Morrison:
As someone old enough to remember the 70s and early 80s I find these end of the world threads quite amussing though I can understand why it must all seem so scary to everyone born after maybe 1970.
While I don't believe we're going back to 2005 anytime soon life will go on. I remember back in the S&L days some very smart people who were convinced "it" was over. Sure seemed that way at the time.
And even in the depression most people did okay. In fact some parts of the country did quite well and felt very little if any impact.
Keep things is perspective. Yeah, things may be tough for a long time but tough is a relative thing. I bet things will still be better than the 70s for most people. Most people will have jobs and homes and plenty of food. They'll take vacations, buy cars and enjoy life. Many will even start businesses and get rich. Some will undoubtably fail and others will blame their failure on the economy. I won't be one of those thats for sure
And it's also helpful to keep in mind that predicting years out into the future, good or bad, is a fools game. Mental masturbration at it's finest. Nothing wrong with thinking about it, just don't get married to an idea about what the world will be like in 10 years thats all.
honestly........who are you kidding. I started employment in 1975. Worst I have seen in my lifetime. Certainly there will be pockets of strength. I do not think anyone believes the published employment rate.
He's never had a "losing" trade, until he finally puked a LONG FAZ trade at $29.60 in single digits. Another ET "paper-trader" who gets paid by the post and trades odd-lots in his IRA.
By posting one "Doom & Gloom" post after another, he mentally masturbates and rationalizes why it is that he can be so unbelievably WRONG on the market, when the Economy looks so horrible.
Quite twisted, but I guess it works for him.
Have not been short this year at all, I stayed out a good part of late January and February. You are an object of subterfuge Landis. A great bullshit artist indeed. I will give you that. I would not pretend to manage someone else's money. I don't need to nor have the desire to. Do you have any other explanation for the trip down? I am all ears for a rebuttal.
It still is a sucker's market, until the numbers say otherwise.
