Oh, Gary North. I remember those guys, the hard money bunch, North, Shultz, Ruff, Smith and the like from the 70s. It was an interesting time. The bad old inflation days. Bought and sold my first house in 2 years, buying a second much nicer home and with the excess of capital spun off from that deal bought an airplane. Be careful with those guys, they may steer you right, but they may steer you wrong. Its just that way with any analyst.
Not sure what it means to you, not being in "bubbleland anymore". But it makes me think of the old adage buy low, sell high. I can't quite understand why you would recommend the S&P500 as an alternative to QQQ given the variety of criticisms that your references point at the market. Wouldn't the problem of corporate debt be even more closely associated with that index for instance? Maybe its the ease of trading the Naz through QQQ, I don't happen to know the symbol for trading the S&P500, do you? Maybe its my general familiarity with the companies of the Naz, and that I tend to prefer to deal with the devil I know to the one I don't know. QQQ seems liquid enough to me with something in excess of $2 billion in daily trading volume.
Personally I proudly claim to be a market timer. To me, timing is everything and everyone is a timer. Its just that the longest term holders are generally worse timers than most. And I'm still holding some the silver that I bought in the 70s thanks to the likes of some of Mr. North's compatriots...It gives me a lot of "peace" at night.<g> |
