As I recall, Tobias doesn't approve of options despite the fact that he made a bunch of money the one time he bought any. He seemed to think it was like trying cocaine.
But I think I remember at least feeling wiser after reading him, whether I was or not.
Have you ever seen any of Train's funny little books? He made a collection of weird newspaper articles that I love to recite, and also a book of peculiar names that people had.
I guess this was an OK week for a bear, though I have been watching for years and years for that wonderful reenactment of 1987 with the Dow down at least 1000 points in a day.
I really think it helps to read about ten core investment books again every year. Gets you detached from the barrage of immediate information. The trouble is, I really can't do this full time--and to be really good I think you have to stay in training. I neglected my training and went on my guts in later 1980s and early 1990s, and it was a disaster. Right now I think I am in pretty fair shape. My IRA hasn't gone anywhere this year, but the account where I short, option, and trade short term is up an amazing 86% since late last year. Those QQQs were like a buffet table, the Dow LEAP puts are great, and I bailed out (in that account) of my energy royalty trusts at the right time. Now I am trying preserve everything with BEGBX and FAX.
Somebody on another thread said there were mutual funds where you could buy into losses. I wonder if anyone here knows anything about these. Sounds like something the IRS would want to squash right quick. |
