People like Fagpole are intolerable. The “there is one right way to do things, and that is my way” crowd.
What a joke.
He would be all too glad to sit in judgment of you, according to his standards, if he had a little more info. What he utterly FAILS to understand is that different standards are possible.
By MY standards, he is a failure. I myself “retired” a while back, and I am his age. How? By being responsive and not stupidly mechanistic. In this past week we have one more example of him failing to capitalize on an all-too-obvious opportunity. Anybody who considers themselves an investor, and who didn’t short the markets or at least move to cash when they went literally parabolic over the last few weeks is a failure. You can talk buy-and-hold all you want, but I’m not even talking about just hedging—I mean, if you didn’t understand this, you don’t understand squat.
He is swept in the current of his own ego. I hope that he and i both live to see the day when all the institutions upon which he relies abandon him—US tax and social policy, SS, value of the USD, private property, etc..
It is already happening. Dollar index trending down, trade balance trending down, pensions re-negotiated, SS broke soon, soaring decicits, QE4 all ready to be deployed, MM funds bail-in’able with no notice, you name it.
The surest sign of weakness is when you have never heard a guy admit failure or even bad judgment, or incomplete knowledge or awareness. That is when you know that he is in fact using no judgment at all, and just parroting the retarded crap that he thinks is, and will always be, true.
I say this not because i care about Fagpole, but to present a counterpoint. BS like his needs to be met with a response. He may end up fine, but it will not be because he is his own man, or even in control at all.
I te-iterate: anybody who did not take advantage of market behavior before the drawdown is not doing as well as they could. And no, he doesn’t have enough that he doesn’t need to worry.