Hot air for a reason: http://www.cnbc.com/2015/09/27/-of-potential-looming-catastrophe.html
Hot air for a reason: http://www.cnbc.com/2015/09/27/-of-potential-looming-catastrophe.html
Hi, K5!
coach d, agip and Maserati,
The Troll that found a clever way to impersonate my handle has been banned by the Moderators. Of course one can find other ways to cause mischief. Hopefully it will send a message to others.
Igy
Ghost of Igloi wrote:
Hot air for a reason:
http://www.cnbc.com/2015/09/27/-of-potential-looming-catastrophe.html
Carl Icahn?
All the big Jewish conmen of the past several decades are now being sold to us as learned elders. The decline of Western civilization.
Big Dog Investments wrote:
I think coach is just echoing WB's mantra of owning what you know. I recently read an article about the advantages of owning a handful of stocks that you believe in vs a mutual fund that invests in many stocks. I'll see if I can find it.
On another note, did you see the new Netflix documentary on Keith Richards? Very interesting and recommended for fans.
well ok but you buy great companies that you know, like GM and GE and Pfizer and you still make no money for decades and decades and decades
I dearly love KR - I watched the first 15 minutes of the documentary last night on your recommendation - much fun. He is everything I would want in a musician hero.
update:
Since the thread started on 8/27/13, going by the vanguard total market index and counting dividends, the market is up 9.1% total.
Not a great two+ years.
I will dip my toe into this thread again tentatively, it's tough to get rid of a troll.
DJIA down under 16.2k early Monday morning. To re-iterate: value is subjective, and relative. Market returns and prices are down, but do they still represent good, competitive value for your investing dollar?
For me, the answer is still no. For instance, I am buying a condo next to one I already own. I will occupy half of it, and rent out the other half, on which I will realize 12% before taxes, but after all fees, expenses, and licenses...and that is only renting out HALF of it, and I'm not even doing this with the primary goal of making money...and that is buying the condo at market. No, getting a renter won't be a problem, and no, there will be no condo surprises, as I already know everything that is going on, and will live next door to the renter.
However, I'm still watching the markets. I don't have any other rental properties and do not wish to get into "the business" of being a landlord, this rental will be just to make the extra space I get pay for itself.
Which is just sound business, and represents value.
The markets? Not so much.
Regarding coach d's knowledge of certain companies, that only goes so far. Management changes, and knowledge about precisely HOW these companies do their accounting is often difficult to achieve if you are not on the inside. The "type" of knowledge coach d seems to go on is "operational knowledge", that is, knowledge of the business operations.
Good luck to you, and congratulations to coach d, if you want to go that route.
Unless stocks can be had at significantly lower prices, I prefer to be on the inside looking in--into my own business operations--than on the outside looking into someone else's business operations.
I continue to DESTROY market returns this year, while being out. Being in, however, is just soooo EASY in comparison.
I must say, ghost, that incessantly repeating the mantra that valuations are too high, without providing examples of successful alternative investments, has no investment-related content.
good lord this market is awful
I'm going to take a walk around the block so I don't do anything stupid.
Yes agip for you it might be awful depending on what you use it for.
(yes I know I have just ended a sentence with a preposition)
Now 16.1k
Maserati,
Not me, my handle is registered.
Igy
I can report it again if you wish to continue to play this game?
Maserati wrote:
Yes agip for you it might be awful depending on what you use it for.
(yes I know I have just ended a sentence with a preposition)
Now 16.1k
there is actually no rule that says you shouldn't end a sentence with a preposition. It's strictly stylistic.
being a landlord is not my idea of a lifestyle - No freaking way do I want to do that. I know it can work, given good tenants, no debt and a landlord mindset, but f'r Francesco's sake...not for me.
Instead, I'll own pieces of world class companies with millions of people working for me, thanks.
Ghost of Igloi wrote:
I can report it again if you wish to continue to play this game?
please don't
I beg of you
say interesting things, Igy, and we will pay attention to them.
and change your handle. Then register it. here - "Ghost of Igloi." see? it has a period. it's only a little different. then register it.
or just ignore the stealing. it'll go away.
agip,
I won't re-register as a matter of principle. I will ignore the clown for now.
Anyway, it looks like we are looking for a re-test of the August low. I would say the we will probe the 1820 low from 10/15/2014. From there if we go below 1800 who knows?
Igy
agip, I feel you. I never wanted to be in the "landlord business". This is too good an opportunity to pass up, where the whole is greater than the sum of the parts. I don't HAVE to rent any of the space, but I will, as corporate rental, which is much easier than general rental (at least for me).
I do not, and will never, use any other properties as rentals. I'm even having second thoughts about renting out this portion, but that is the mentality that allows me to make money--assets should be used for generating revenue, and the world is imperfect. Yes I have enough $ to just buy and occupy it, but in my mind that wouldn't be as "smart" as renting some of it out.
Ask me in 2 years from now if I feel the same way--I will probably have converted it to a master suite by then, lol
Edging down to 16k now.
Ghost of Igloi wrote:
agip,
I won't re-register as a matter of principle. I will ignore the clown for now.
Anyway, it looks like we are looking for a re-test of the August low. I would say the we will probe the 1820 low from 10/15/2014. From there if we go below 1800 who knows?
Igy
I'm going to go out on a limb here and say the Dow won't go anywhere near 1800 for a very, very long time.
POTO,
Yes, I agree the Dow will not go anywhere near 1800, but the S&P 500 will.
Igy
This is interesting - I think we are all wondering why the market is plunging like this in the US, without corresponding negative economic news. All is pretty solid here numberwise. Sure there are fears of interest rates but those are just fears - nothing showing yet.
This article suggests the problem might partly because oil and EM countries are dumping stock to fill holes in their budgets. Meaning Saudi and China obviously, but probably smaller petro states too.
I'm sure this is a factor in this correction, but not sure how to figure how material it is.
Saudi Arabia has withdrawn as much as $70 billion from global asset managers as OPEC’s largest oil producer seeks to plug its budget deficit, according to financial services market intelligence company Insight Discovery.
"Fund managers we’ve spoken to estimate SAMA has pulled out between $50 billion to $70 billion from global asset managers over the past six months," Nigel Sillitoe, chief executive officer of the Dubai-based firm, said by telephone Monday. "Saudi Arabia is withdrawing funds because it’s trying to cut its widening deficit and it’s financing the war in Yemen," he said, declining to name the fund managers.
agip,
There is absolutely no way one can isolate what has gone on in energy and commodities from the general economy. The fact that sovereign wealth funds are force to sell stocks into a falling market should be of no surprise. These funds had a nice ride on the way up, and now reality is setting in. And valuations do matter, all you have to do is look at the biotech sector today. At some point a realization will come that something is rotten and it is not just energy and biotech.
Igy