OK, makes sense. I worked with a guy _ briefly _ who was that way, urged his clients to stay diversified, the market always goes up over time, etc.
Then came the worst bear since 1936-39.
I'm really torn here. I think the 'Net gives us, as investors/traders, a huge advantage over the old school. Now, having said that, we all know the games that are played in the markets, and some of these in the last few years even the old-timers have never seen before.
The reason why so many funds (Janus) failed is because they relied on their research, believed in their companies, and when Uncle Al turned against the market, they stayed the course _ all the way down.
It just takes so *&^% much time these days to scour the markets for that needle in a haystack that actually is a real company doing interesting things and is breaking to higher ground (the TA). In '99, the TA was all that mattered. Now, it's different.
So, it depends on the broker. If their advice is to buy the blue chips on dips, well, gee, I can do that from home. But if I'm going to shell out $100 bucks a trade, it needs to be something besides "buy WMT." Know what I mean? I'm sure you do. So that's our quandry.
PB |
