Tough question. Who to listen to and believe about the current financial situation?
History? Since the Great Depression the average bear market has lasted 15 months.
-We're now at 17 months and counting.
Experts? Dr. Doom (Roubini) called the market bottom at 7000.
- Oops! We dropped through that number already.
Trends? Typical bear markets give investors 30% haircuts.
- We're currently down more than 50%.
Politicians? Bawney Fwank? Obama?
- Please. Surely you jest.
Money Honeys? Maria Bartiromo and others?
- Nice to look at. Use the "mute" button on your remote.
Insiders? The people on the inside, in the know?
- SECform4.com and Insider Cow have charts that show insider buying trends/indexes. When THOSE charts show a steady positive trend, THEN I'll believe we've bottomed. So far, they do not show any such trend...we're still heading downward. Until this changes: It is all meaningless noise, guessing, and wishful-magical thinking.
This redneck hot tub shows our situation more clearly. Some chopped onions, potatoes, etc MIGHT convince the public that they are truly "in the soup"...maybe.
Thursday, 12 March 2009
Who to believe?.............from Rico
From Theo Spark at 16:10
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