READ THIS POST!!!
The following is my response to a PM in which we were discussing a portfolio which is expected to take a really strong hit with any strong market sell-off here. The other person said he expected his portfolio to come back and make him even MORE money!
My response:
Do the words, "Past results are no guarantee of future profits" ring a bell???
Sadly, that is the what is overlooked in the chant "This time it's different!"
Hope, for your sake, you are right. However, the SCYR went to .67 - again the lowest in history!
Again, I am totally in safe, cash-like investments which really have much better returns than the stock markets. Really. And have been that way for over a year and have published that for over a year. Those who are in equities have lost money, relative to my holdings, that is unless they are either astute and/or lucky stock pickers.
The situation WILL NOT CHANGE ANYTIME SOON unless we have a crash... which I believe is likely. A crash that everyone believes we will easily weather and come back from immediately. But we won't!
IMHO, BWDIK, etc, etc, etc |
