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Pastimes : CNBC -- critique. -- Ignore unavailable to you. Want to Upgrade?

To: Dr. Jeff who wrote (1611)	9/3/1998 12:27:00 AM
From: ahhaha	Respond to of 17683

It sounds as though your other money was in the market partially in oil well service and you listened to the sirens. Now you've been whacked so the rest of the world must succumb. Misery loves miserables. If that isn't true, why are you so concerned? You can't succeed at investment by taking a bearish stance. If you think there is too much risk, stay out of the stock market. For most that is always good advice. People don't need to wake up. If they did that half would do the same had they awakened, and the other half would go back to sleep. The result in every case would be not much will change. I suggest not tending after other's sheep, just concentrate on using your fear to benefit. That will require that you assume you are a total fool. Sorry to tell you, but that is the way of financial success. You believe for some hocus pocus reason that the sky is falling. In 30 years I have heard about it daily and have even seeded a few clouds myself. Let's assume you're right. Your cash will be worthless, so you had better convert it into something that won't evaporate. That depends on the degree that the world is going to be smashed. Assume only mild smashing. Gold is the answer. Deflation? That's good news. If so, why aren't you holding T-bonds? Oh. Deflationary inflation or inflationary deflation where interest rates go up and down simultaneously. Bonds, stocks, gold, currencies, they all go down. Then, in that case you have nothing to fear. On the other hand if they all go up, you had better get out of cash fast. Why not get into the thing you apparently fear the most: oil service. SLB looks like a terrific buy. It didn't plunge in three days time. It has been on an extended downtrend. The negatives are well-known. Something has to look bad to be cheap. That's how you buy low. You only have to look your fear in the face and jump down its mouth. If you already own some, shut up, calm down, and realize that it was greed that put you here so why not let the other half of the cycle, fear, complete its course. The next cycle with greed leading will only follow rising prices. Hold your stocks. The world runs on oil and I don't think that will be changing anytime soon. The oil sector looks horrible. A presumably recessing world economy and plentiful supply has given it thumbs down. Have you considered that the very facts that are causing the oil stocks to get cheaper on Wall Street are being addressed by managers on Main Street? In a circumstance like this your companies only need to survive. That's true for all stocks. The downside isn't finished and we've got October to get through so the market is going to be tough. Time to ignore the game. Time to go do something fun rather than fuming over this boring presentation of idiocy called stock market economics. The only thing the analysts missed was a bad guess on Japan. They assumed that Japan would address their problems and things would return to normal. Japan refuses to do so. They can't lose face after all the emperor's new clothes hubris they put on using capitalism to totally humiliate anti-competitive field levelling America. Now their glorious neo-mercantilist empire is sinking and they can't admit that they have become the world's dog-eared boy. Their irrational resistance to one ounce of change has pulled many weak economies down. Sooner or later they will have to open the money floodgates, and the entire world will go back to the road it was on: world wide wage inflation. When and if we get there, you can tell me all about your strategy to handle it. I can say with perfect confidence that if such arises, you will be fast asleep, oblivious to all that is going on absorbed in your anger towards CNBC.