The charming and very handsome Mr. Wexler discusses his favorite investment ideas, ruminates about the market, and makes fun of stock frauds and scams.
12/11/09
Stocks remain ridiculously expensive, and I'm buying more gold and silver.
10/06/09
Much as I hate to say it...it might be wise to take some gold off the table here after a colossal run. Not only because of "bull, bears, pigs", but it appears that the lunatics have taken over the asylum as far as the dollar and U.S. equities are concerned. I'm troubled by the extreme divergence of the dollar vs. stocks (i.e. stocks and precious metals are rising together.)
I'm not selling my entire position...just a chunk. No doubt the S&P is in for a vicious correction, and probably sooner rather than later. I'm sure you'll be able to buy gold lower...though I seriously doubt we'll break below 900. Ideally, after the smoke clears, I'd like to see stocks and precious metals diverge.
4/30/09
The bounceback rally of the past was predicated on a lot of hope that tiny bumps in consumer spending and deceleration of falling home prices (not an end, just a slowing in the velocity of the fall!) is signaling a turnaround. Hope will soon meet reality. Adding more silver to my commodities portfolio and buying FAZ (speculative).
3/24/08
File this one under "famous last words"...
finance.yahoo.com
1/30/08
Staying with all things related to gold. Have also been buying oil (futures and funds such as USO) as the bearishness down at $40 a barrel has gotten as ridiculous as the bullishnes back at $150 a barrel.
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. |
