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Old 10-28-2011, 11:09 AM   #41
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Yesterday I was siting ouside on the west side of an espresso shop enjoying the sun. There was a homeless guy sitting at a table next to me with an old fashioned boom box.

He was listening to some market/finance guru.

Ha
Let us know when he starts offering you stock tips so we can sell/short.
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Old 10-28-2011, 11:21 AM   #42
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Maybe he's a financial advisor?
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Old 10-28-2011, 11:58 AM   #43
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Originally Posted by haha View Post
Yesterday I was siting ouside on the west side of an espresso shop enjoying the sun. There was a homeless guy sitting at a table next to me with an old fashioned boom box.

He was listening to some market/finance guru.

Ha
Could be a rich hoarder -- one of those 1% guys, you never really know.
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Old 10-28-2011, 12:30 PM   #44
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Could be a rich hoarder -- one of those 1% guys, you never really know.
You are right, I remember reading about some old guy about 20 years ago who was working in a dry cleaning shop and living in a room more of less under the GW bridge aproach, on the NY side. When he died he was worth $5 million.

I should not judge a book by its cover, or the depth of a well by the length of the handle on its pump.

Ha
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Old 10-28-2011, 01:00 PM   #45
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The rally in stocks is due to the failure of bonds to be a better investment, or at least that is my best attempt to translate from marketspeak a conclusion of Michael Gayed's article The "Fall Melt-Up" Rally is On, where he brags about predicting the rally back on Oct. 3.
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Old 10-28-2011, 01:03 PM   #46
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Yeah, I don't really know about the Dow prediction either

I do think that we will eventually have to start building houses again, and that will be a very good thing for a lot of people.


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Dunno about the Dow prediction, but I have thought for some time that it would take until 2013 to 2015 for housing to work through its mess and the economy to regain full footing.
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Old 10-28-2011, 05:44 PM   #47
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Dunno about the Dow prediction, but I have thought for some time that it would take until 2013 to 2015 for housing to work through its mess and the economy to regain full footing.
2013, if politicians stop helping the housing market. 2015, if they continue making dumb proposals.
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Old 10-28-2011, 05:49 PM   #48
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2013, if politicians stop helping the housing market. 2015, if they continue making dumb proposals.
There's too much shadow inventory, not to mention baby boomers retiring and selling to downsize. I'd push the former back by at least a year, and the latter by two. But your point is well taken, the interventions to improve the housing market will only kick the can down the road and prolong the recovery.
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Old 10-29-2011, 12:07 AM   #49
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You do realize that in 2015, we will all remind you of this prediction?
In that case, put me down for S&P 500 below 600 by May 15, 2012!
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Old 10-29-2011, 12:36 PM   #50
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Well, we shall see. I can hardly wait until the US markets open. Even though I'm pretty much a buy-hold-rebalance type, I still think it's exciting to watch and try to guess what will happen next.
Ah, yes, buy-hold-rebalance and don't forget to enjoy those dividends.
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Old 10-29-2011, 01:10 PM   #51
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Isn't the P/E still pretty sane for the S&P, despite the recent gains?

Don't listen to me, though, I kept forgetting to re-invest DW's SEP IRA money (~12k) and then put in market orders on Friday without looking. Market timing is not for me!
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Old 10-29-2011, 02:31 PM   #52
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I time the market constantly. I buy stocks if they go up. If they don't go up I don't buy them. What could be simpler?
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Old 10-29-2011, 02:33 PM   #53
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I time the market constantly. I buy stocks if they go up. If they don't go up I don't buy them. What could be simpler?
Yuck, yuck. , .
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Old 10-29-2011, 02:59 PM   #54
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Ah, yes, buy-hold-rebalance and don't forget to enjoy those dividends.
I do, I do! That's what I live on, for the most part.
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