What Would Joe Boxer Do?

I came across a fascinating thread on Fark Business containing over 300 comments. I wasn’t much surprised to hear hundreds of standard thinking “investors” take the stand as to what the future holds in store.

The thread was mostly from Thursday. The Friday thread had only about 20 comments. I guess a few more percentage points is what it takes to get some people to start thinking with their heads and not just with their wallets

Almost every single comment by those boasting any profit whatsoever, owned either Apple or Emerging Markets. That’s gotta make you think. Needless to say, came Friday and the Apple shareholders probably weren’t cheering on with so much enthusiasm.

Some comments…

  • “Not my stock.. I own Apple :)”
  • “It’s only 3%, No need for Panic”
  • “Ha ha ha. Freefall my ass. Stock market is up at all time high, and now people are taking Countrywide’s statements as an opportunity to take profit. We’ll be climbing again by Monday.”
  • “This isn’t a “freefall”; it’s a buying opportunity.”
  • “ehh whatever. hopefully it’ll go up by the end of the week :P”
  • “It’s down further than usual but it’s still not to bad.”
  • “God, I wish I could sell my house.”

Misconceptions…

“Everyone’s gonna run from risky assets until they figure out that whether Goldman’s on the hook for KKR’s bank loans has squat to do with whether people in the real economy keep flying to Disneyland and buying clothes for their families.”

Unfortunately, bank loans have plenty to do with Disneyland. Credit Crunches aren’t pretty, but how should he remember; It’s been almost 40 years.

“I’m putting my entire IRA into stamps.”

Stamps? As one commentator mentioned he’d be better off investing in Government Bonds. (some silver Sir?)

“This is a full-on bull-market correction. Look for 10% or more down from the peak, or another 800 or so points on the Dow.”

I do pity this man if he goes ahead and invests everything he’s got after a mere 10% correction. 45% may be more probable. (Once again they ain’t pretty).
“Subby yearns for American failure.”

“…get into Developing Foreign Markets, especially China and India. Growth is HUGE there, and there are mass construction/infrastructure projects that are just begging for money with serious return potential.”

This one sounds like a child who just saw candy for the first time. Yes, the growth is huge, but every last speculator on the freakin planet already knows that.

“The rest of us – those who buy and hold, investing for the long-term – ignore these market movements. In fact, we actually really like it when the market tanks short-term, because it allows our investing dollars to go even further.”

Ah, yes… The Buy-and-Hold mantra. The only ones who truly prosper in bear markets are those who have cash received as dividends from stocks bought with reinvested dividends.

“I’m just pissed Kraft plummeted today on news Warren had a official stake in the company … WTF its supposed to go up on that news :-(“

This is why we don’t speculate on Warren-Buffett-investments. And here’s the greatest joke of all. You are trying to beat Warren on a value play and he gets the bargain!

“Some people took profit. It happens.”

Just profits? People may end up taking a lot less than “profits”.

“Time to short them stocks.”

Sorry bud, but the time to short was at Dow 14,000. Now you might as well wait for the rally and short then.

The 1970’s Mantra: “HA! HA! I DON’T OWN ANY STOCKS!”

Another 70s Mantra: “Ahhhh…the beauty of living pay check to pay check.”


Give Credit where it be deserved…

  • Buy GOLD!
  • It’s not a free fall. It’s a very expensive fall.
  • Some people just don’t understand the concept of “inflation-adjusted”.
  • I bought gold coins and silver coin… I’m gonna own everyone when the crash comes. Also bought guns and 2 years of food.

Remember the last time…

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