The charming and very handsome Mr. Wexler discusses his favorite investment ideas, ruminates about the market, and makes fun of stock frauds and scams.
10/22/08
Either the we're getting the buying opportunity of a lifetime in the miners:
finance.yahoo.com
...or they're going out of business by the end of this week.
I'm betting on the former.
10/17/08
Took advantage of some of the big "melt-ups" to take some profits and sell covered calls. Now that gold has taken a thorough pounding...buying back 30% of my original position.
10/10/08
Covered 100% of my shorts. Sold all my gold. Going long U.S. stocks.
The events of the past few days coupled with unprecedented worldwide pessimism and "end of the world" angst makes me want to go contrarian again...in a big way.
What it boils down to:
Asset prices have come down so far, so fast that the individual investor is faced with the following almost zen-like situation;
A) If it really IS the end of the world, then nothing you do will matter.
B) If it's not the end of the world, might make sense to to cover the shorts while the covering is good, and take advantage of the forced liquidations, restructurings, panics, etc. to pick up shares in companies that will live on through this economic crisis. |
