Comments on: Words from the (investment) wise 2.15.09 http://www.ritholtz.com/blog/2009/02/words-from-the-investment-wise-21509/ Macro Perspective on the Capital Markets, Economy, Geopolitics, Technology, and Digital Media Sat, 20 Mar 2010 08:35:19 -0400 http://wordpress.org/?v=2.9.2 hourly 1 By: Lars39 http://www.ritholtz.com/blog/2009/02/words-from-the-investment-wise-21509/comment-page-1/#comment-146000 Lars39 Sun, 15 Feb 2009 15:48:52 +0000 http://www.ritholtz.com/blog/?p=19093#comment-146000 Hobo, don't count the crooks out, they will just find another way to steal money. Fear and Greed will always be with us. Hobo, don’t count the crooks out, they will just find another way to steal money. Fear and Greed will always be with us.

]]> By: dead hobo http://www.ritholtz.com/blog/2009/02/words-from-the-investment-wise-21509/comment-page-1/#comment-145991 dead hobo Sun, 15 Feb 2009 15:19:50 +0000 http://www.ritholtz.com/blog/?p=19093#comment-145991 Looks like a turnaround for the better is coming. This post is too long to read in detail. In part, it appears that some 'investors' are upset because there is little to steal and thus, a depression is coming. Perhaps their optimism would improve if somebody left the equivalent of a wallet filled with cash lying around and easy to find. Some are 'leading' by following the crowd - in other words they're repeating what 'everybody already knows' in order to sound mainstream and retail popularity. Some appear to be the same economic geniuses who proclaimed oil at $147 was to be expected, normal, and not even slightly based on thieves who knew how to get away with it. Anything Jim Rogers wants is for probably involves something that is good for Jim Rogers at the expense of everyone else. Me, yesterday I saw a crowded mall in a town said to be stricken by a terrible recession. High end stores were busy, but not crowded. I think the idiot economists who dismissed good retail sales last month are going to be dismissive again when February sales are announced. Of course, they will again claim they're not ignorant, the statistics are just wrong. Personally, I think the economy is reinventing itself. This takes time. Previously, to make money a hedge fund just needed a clever idea about how to steal, manipulate, or play hot potato with worthless financial papers. Given that so many greater fools were available to pay real money for substantially worthless financial instruments, the world was almost in a state of arbitrage if you were clever and not particularly honest. Idiots abounded on the buy side. Now, impatient and frustrated idiots abound on the sell side. Screw them. People will actually have to build things once again. Books such as 'Investing For the Long Run' will stop looking dated, quaint, and naive and contain relevant information once again. The thieves are howling and hoping we will all go back to the old ways to prevent them from, collectively, holding their breath until they turn blue. The last hurrah for the crooks is the hope for free money from Uncle Stupid. By not taking the bait, the TARP might actually do some good and not subsidize thieves when plans are eventually announced. In fact, it looks like the thieves are mounting their Battle Of The Bulge now for free money from Uncle Stupid. I think your depressing and too long to read post is a sign of a turnaround for the better. So long, crooks. I'm laughing at you. Looks like a turnaround for the better is coming.

This post is too long to read in detail. In part, it appears that some ‘investors’ are upset because there is little to steal and thus, a depression is coming. Perhaps their optimism would improve if somebody left the equivalent of a wallet filled with cash lying around and easy to find. Some are ‘leading’ by following the crowd – in other words they’re repeating what ‘everybody already knows’ in order to sound mainstream and retail popularity. Some appear to be the same economic geniuses who proclaimed oil at $147 was to be expected, normal, and not even slightly based on thieves who knew how to get away with it. Anything Jim Rogers wants is for probably involves something that is good for Jim Rogers at the expense of everyone else.

Me, yesterday I saw a crowded mall in a town said to be stricken by a terrible recession. High end stores were busy, but not crowded. I think the idiot economists who dismissed good retail sales last month are going to be dismissive again when February sales are announced. Of course, they will again claim they’re not ignorant, the statistics are just wrong.

Personally, I think the economy is reinventing itself. This takes time. Previously, to make money a hedge fund just needed a clever idea about how to steal, manipulate, or play hot potato with worthless financial papers. Given that so many greater fools were available to pay real money for substantially worthless financial instruments, the world was almost in a state of arbitrage if you were clever and not particularly honest. Idiots abounded on the buy side. Now, impatient and frustrated idiots abound on the sell side. Screw them.

People will actually have to build things once again. Books such as ‘Investing For the Long Run’ will stop looking dated, quaint, and naive and contain relevant information once again. The thieves are howling and hoping we will all go back to the old ways to prevent them from, collectively, holding their breath until they turn blue.

The last hurrah for the crooks is the hope for free money from Uncle Stupid. By not taking the bait, the TARP might actually do some good and not subsidize thieves when plans are eventually announced. In fact, it looks like the thieves are mounting their Battle Of The Bulge now for free money from Uncle Stupid.

I think your depressing and too long to read post is a sign of a turnaround for the better. So long, crooks. I’m laughing at you.

]]>