>>>>>"....I have more background and training in economics and post-graduate work than you'll even hope to have. It's crystal clear how it work. I learned it and I've taught it to graduate students....."<<<<<<
Steve,
I will not get into a "mine is bigger than yours" argument. It is childish and unproductive.
I handle accounts for several friends. I do not invest in highly speculative stocks as it is not a lottery ticket I'm looking for. The "penny" stocks and the "dot.coms" are not my bag. I look for stocks with substance, history, and leaders. DELL, NT, IBM, MSFT, JDSU, CSCO, etc..
When I lose money I do NOT look for scapegoats. I always hold myself accountable for my actions. I try to balance Greed and Common Sense. Very often I find that when I lose money on a stock it's because "Greed" won that particular battle.
On Friday I asked why were they allowing the carnage to continue. At the time, the Dow was over 700 points in the Red. In essence we had someone yelling out FIRE in a crowded theatre and in the panic innocent bystanders were being trampled. I questioned why trading wasn't halted until cooler heads prevailed. I suggested that it was irresponsible on their part to allow trading to continue.
Someone to blame? YES, there are times when some influential people should be blamed for blatant abuse of their influence. A couple of weeks ago we had dear Ms. Abby ("I did not know my comments would stir up such turmoil") Cohen give us a perfect lesson on manipulative tactics used by certain. I am sure, Steve, that you are not naive and believe that nothing goes on behind closed doors. Losing money on a bad investment is one thing, losing money because you got screwed is another.
Cheers,
Vince |
