for those on the financial titanic

[Ken Gargett]

for those of us still shifting deckchairs, came across this on the borowitz report.

Elsewhere, former Fed Chief Alan Greenspan gave this testimony to Congress today: "To those millions of Americans who have lost their jobs, their homes, and their life savings, let me offer a heartfelt ‘oopsy.'"

[Guest rob]

» for those of us still shifting deckchairs, came across this on the borowitz

» report.

»

» Elsewhere, former Fed Chief Alan Greenspan gave this testimony to Congress

» today: "To those millions of Americans who have lost their jobs, their

» homes, and their life savings, let me offer a heartfelt ‘oopsy.'"

Yep, sounds like was straight from the heart.

[El Presidente]

Hindisight is a wonderful thing

I had a stirring discussion with members on the deck last week. On one side of the argument (not mine) was that markets have failed due to the core deficiencies of the market itself. My argument is that they have not failed but are simply readjusting to investment strategy failure as they always have.

This death by a thousand cuts is painful. Far more painful than a one week 40% rout. The ban on short selling really hasn't helped a great deal. Govt intervention has been scattergun and often leading to unintended consequences (flight from secured investments into Govt guaranteed bank accounts).

I will be buggered if I know where it is leading.

Maybe a Cigar Mutual Fund made up of $5,000,000 of stock (25% Ramon Allones Estupendo's, 25% Por Larranaga Robusto, 25% Por Larranaga Magnificos, 25% Other).

Inputted at HSA cost +25%.

To be released in 2015.

I bet I beat the market in returns :-D

[Colt45]

Yes, my retirement fund is back to where it was about twelve years ago.

Thanks Ken, as always, for brightening up my day.....

[Ken Gargett]

» Yes, my retirement fund is back to where it was about twelve years ago.

» Thanks Ken, as always, for brightening up my day.....

then my work here is done.

[Ken Gargett]

and just about on cue, coms the daily call from the comsec margin loan dept. i swear those bastards have me on speed dial.

[Colt45]

» then my work here is done.

always look on the bright side of life......

[Guest rob]

» and just about on cue, coms the daily call from the comsec margin loan

» dept. i swear those bastards have me on speed dial.

They looking for their money back Ken?

I've had Comsec on my screen fulltime (along with foh) for about 6 weeks straight. I've been buying a shitload more than I've been selling... if I do my arse then so be it.

[Ken Gargett]

» » and just about on cue, coms the daily call from the comsec margin loan

» » dept. i swear those bastards have me on speed dial.

»

» They looking for their money back Ken?

»

» I've had Comsec on my screen fulltime (along with foh) for about 6 weeks

» straight. I've been buying a shitload more than I've been selling... if I

» do my arse then so be it.

i have no doubt that in years to come, this will look like one of the great buying opportunities of all time but there is a heap of pain to come, which may not translate to further huge falls but who knows. problem is having money to buy this stuff. we have a world of hurt yet to come in property etc.

i just think that anyone wanting in, the odd specific share aside, there is no rush at all. staying afloat in the meantime is the trick (did i really order more cigars and wine today?)

[soltino]

» i have no doubt that in years to come, this will look like one of the

» great buying opportunities of all time but there is a heap of pain to

» come, which may not translate to further huge falls but who knows.

Couldn't agree with you more Ken. I live in China and get paid in sterling so this past 3 months, what with the massive correction in the GBP/USD exrate, I have been hit very VERY hard (lost about 1/3 of my salary). I'm having to sell our apartment so that we can survive - luckily the Chinese house market is still fairly buoyant so I should still be able to sell for a profit.

Once I get a bit more cash though, assuming we do manage to sell (fingers, toes, legs, arms, bloody everything crossed), the first thing I will be doing is buying up some stock, as in the long term the markets will correct themselves and thats the only way I can see that I can recoup some of the massive losses I am entertaining at the moment....

Did I really just order some Ramone Allones Estupendos??? :-D

[Ken Gargett]

when i said no rush, i did mean before last night.

it might or might not be off the bottom but there is still a bucket of pain to come.

good luck with the house.

[soltino]

» good luck with the house.

Thanks Ken :-)