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Strategies & Market Trends : Bob Brinker: Market Savant & Radio Host
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To: Math Junkie who wrote (42132)1/14/2009 11:13:43 AM
From: EQ 2 Recommendations  Read Replies (1) of 42834
 
Math,

This is only my opinion, but I think Bob was fairly certain that we were in a CORRECTION. Therefore, he decided to hang on tight and not potentially sell at a low and need to buy back in at higher levels.

Obviously history has proven Bob and millions of others wrong. The BIG factor in solidifying this recession (or potential depression) was the financial melt-down and the totally inept way that our employees (The Fed, Treasury, Executive and Legislative branches of government) completely mishandled the situation utilising OUR MONEY.

The above events are unprecedented in our financial history. I am not sure how anyone could have foreseen them or proceeded with a TIMELY action plan as the events unfolded.

That said, the three areas I fault Bob are as follows:

1) Not having STOP LOSSES or TRAILING STOP LOSSES in place.

2) Not investigating and POSSIBLY using Inverse, Double Inverse or Triple Inverse ETFs to bail him (and his listeners) out once the damage was done. However I think Bob is probably too conservative to use these instruments and the bulk of his followers are probably too conservative and/or don’t understand Inverse ETFs.

3) Lastly, Bob should have come totally clean, told his followers he made a mistake and offereds advice as to what to do now.

Cheers,

Elan

PS: On a personal note, yesterday a company I worked at for 13 years announced they were closing their original manufacturing plant.

This was their second plant closure in the past 30 days! They once had nearly 20 plants and now have four (2 of which are in Mexico.)

I wish them well, but one must wonder if they will be able to survive this economic crisis. The company has been in business for 65 years.
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