Subscribe in a reader
Enter your email address:
Delivered by FeedBurner
« Who--who, I ask you--could possibly have foreseen this? |
| The people have spoken »
Posted by Craig on 05:47:00 AM in Economics
You can follow this conversation by subscribing to the comment feed for this post.
Incidentally, a long time ago I read one of the books you cited the other day, A Random Walk Down Wall Street. The only takeaway from the book that I can remember was that the so-called experts, aren't.
Common sense ought to tell you that if financial advisers can do what they purport to do, what do they need you and your money for?
January 18, 2013 at 07:50 AM
Once again proving that "playing the stock market" is nothing more than legalized horse betting where analysts set the odds. And, just like gambling, the rest of the world does not really profit here. Money gets shifted (supposedly to reward the better companies), but what of the opportunity costs? These investors are smart, there's no doubting that. So couldn't they do something actually useful with those brains? Cure cancer, put a man on a moon, invent a diet soda that doesn't suck?
Or perhaps the takeaway from the story is that we should not be surprised because money is the root of all evil, and cats are evil, thus cats should be good with money :)
January 18, 2013 at 11:58 AM
My small portfolio has done quite well over the years but that is because I am willing to invest against trend. I often sell off and take my profits as stocks are climbing because you cannot ever predict when there will be a reversal. Then I buy more stocks that seem to be undervalued or (like I did in 2007) switch to gold or just cash.
So it isn't really about picking individual stocks so much as trying to be contrary to what the crowd is doing.
January 20, 2013 at 07:49 AM
The comments to this entry are closed.
Find new books and literate friends with Shelfari, the online book club.