That was almost civil, DAK. Almost. What happened to your loud public declaration that I was now and for ever more on "Ignore?"
Well, an "almost" civil question deserves an "almost" civil answer.
First, this is not a debate, so there's no "reasoning" - as you put it - going on here. Just a display of (very) thinly veiled male egos. It's not pretty.
Second, you're apparently an accomplished trader - or have been for the last 18 months or so, anyway - though why you feel it necessary to exhibit your portfolio is a mystery to me (actually, DAK, it's not a mystery, it's just your mid-life insecurities showing). Very few people can trade successfully for an extended period of time. You may recall that Jesse Livermore, hero of countless extinct day-traders, committed suicide.
Third, my investment approach is entirely market independent. Only fools believe they can consistently predict market direction. The key is to buy value (see Ben Graham, Warren Buffett) and invest long term.
Finally, 2002 is very different from 1929 or 1970, both times of seriously declining economic fundamentals. Right now we have solid growth, high productivity and low inflation. The stock market will not ignore these fundamentals indefinitely. |
