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Strategies & Market Trends : Bob Brinker: Market Savant & Radio Host -- Ignore unavailable to you. Want to Upgrade?

To: gronieel who wrote (40731)	11/22/2008 11:32:39 AM
From: Kirk ©	Read Replies (1) \| Respond to of 42834

Well, like many of us who saw "problems on the horizon" and took some action, we were unable to avoid the mess and grossly under estimated the intelligence of the people running Citibank in my case and Wells Fargo in Buffet's case... I remember telling some guy on 101 a few years back to avoid all these fancy, high yield fixed investments since they were probably tied to crazy real estate loans... I thought being in total bond would be good enough but that has struggled to be flat this year... Almost everyone but the permabears under estimated the stupidity and corruption in the firms trusted with shareholder wealth and the governments charged with regulating them. Both sides of the aisle in government failed miserably. It is beyond me how so many failed to follow the simple logic that you are safe if you avoid leverage... I told some of friends who wanted to invest in these high flying hedge funds that they were picking up nickels in front of steam rollers... fine and dandy until they trip.