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Non-Tech : Kirk's Market Thoughts
COHR 178.34-10.2%3:59 PM EST
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To: Chip McVickar who wrote (4601)1/4/2017 1:40:53 PM
From: Kirk ©3 Recommendations

Recommended By
berniel
Investor Clouseau
kinkblot

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I capitulated.

After having a bearish friend since I first started managing message boards at Suite101 in the 1990s and a bear with the moniker "Perma Bear" took residence on my boards, I tried to be open minded, allow him his own forum on my sites. I continued to participate when I left Suite101 and it went under and he found his way to Facebook.

After a few years of posting with the fake name, Facebook told him he had to post with his real name but could make a permabear forum, which he did and I followed and tried to politely engage with the permabears and occasional bull who posted there.

At the end of the year I asked if he felt any guilt keeping so many out of the market and roughly tripling their portfolios or more if they followed me rather than his bearish ways. I got the old crap about how he'll eventually be right. I pointed out that a nuke could take ALL my stocks to zero tomorrow and I'll have more cash in my mostly equity portfolio to buy what is left when the dust settles than I had as a total portfolio when I first met him.... That is what happens when your Explore Portfolio gains over 700% and you take profits to generate a cash position much like Buffett does with his portfolio. No guilt - It doesn't matter to them! AMAZING

Anyway... I was fine with that but the minions of bears who are clueless and seem to share a similar wrong idea of how the World works... They say just raise taxes on the productive and redistribute it to them in their government jobs and all will be right in the world... When I point out Obama cut taxes on EVERYONE by 2% when he wanted the economy to recover and it did... They blame Bush for cutting taxes rather than Obama making the cuts permanent BUT increasing our taxes a HUGE amount with ACA and that is fine as we have people with insurance, but they won't admit it hurts growth...

Some other clueless ideologue gave me a stack of credentials he has studying Econ under some guru's with PhDs and a Nobel Prize... started in how Trickle Down doesn't work and he has proof... yet he left his high paying job and lives overseas, probably because it is cheaper and he was tired of giving over half to the government, but won't admit it to himself!

Then today some "mentally challenged" person tried to tell me Apple stock price would crash if they used repatriated cash to pay dividends and buy back shares since that is what happened when MSFT started to pay a dividend. When I pointed out Apple has a PE a fraction of what Microsoft's was when it changed from growth to value and this is ALREADY priced into Apple's stock, he started to make stuff up.

Conclusion... some people are so wrong for so long that it is more like mental illness than a learning opportunity and when you discuss facts with them, from a distance nobody can distinguish the crazy from the sane.

Anyway, I capitulated and "unfollowed" his forum and will do my best to not participate on any regular basis.
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