Well, I thought I had heard everything before I heard the question from Bill on today's show. Bill asked: "Why, Bob, can't you say what the market will do tomorrow?" Bob didn't take this literally and interpreted the comment to mean that Bill did not think he made any market projections into the future. Bill, of course, was just plain wrong. Bob not only makes market projections into the immediate future but nobody I knows comes close to his accuracy and rationale to boot.
No wonder Bob may be taking a serious look at the golf course and may be asking himself -- " why bother?"
But perhaps Bill was going for the literal on this one. Maybe he really thought that Bob should be able to project the daily swings in the market. ( I wished I could have taped this conversation so I could get a better grip on whether he was being literal). I am curious though. What made Bill think, if he was being literal, that Bob could perform such miracle work which would allow Bob to own Bill Gates if not the planet? Did he somehow get this notion from the show and, if so, then how?
You know a few months back during the midst of the market correction I went to the chat room on the Motley Fool for a peak at the sentiment. There was this guy Marc who was on line and was taking on anyone who would dispute his premise that Bob Brinker was God himself. Those were his exact words. Unfortunately, the guy was absolutely serious. People would challenge him and he would put them in their place and beg for newcomers to enter the ring. Amazing and at the same time scary to watch.
Bob made his stand on the Total Market Index Fund again today but added some punch. He stated that he does not own the S&P 500 Index Fund but owns only the Total because of its wider diversification. I was suprised that Bob did not mention the Wall Street Journal Article this past week wherein the manager for the Vanguard S&P 500 Index seemed to also recommend the Total Market Fund over his own fund. Then again, I have not listened to the last hour and one half of the show .
If I had a dime lto invest, I would not put it into the S&P 500 Index Fund at this time. Instead, all things being equal, I would look at the Vanguard Small Cap Fund on a valuation basis only. I would be dollar cost averaging there only assuming I was not overweighting myself to that end of the capitaization spectrum.
The lead off call was none other than Linda K's favorite caller -- Al from Mountainview. Al must have a bank of telephone lines running from his home that defy any notion of bandwidth shortage He must also have a quick release redial move that could leave Michael Jordan grasping at air. We should now all refer to him as "Redial Al." |
