Nothing yesterday…today there are 7 home dogs and only 2 have been eliminated from consideration. I will update with the picks shortly before game time or when they become clear.
Peter Schiff says we are headed for a disaster because of all the fed intervention. I know it is best to be greedy when others are fearful but what do you think of his recent comments on Youtube? Its on his personal youtube page and really picks up at the 9:55 mark.”
First let me say that for me to debate Peter Schiff’s theories would be like asking me to debate Barry Greenstein’s no limit hold em strategies:) This is very far removed from my areas of expertise.
But …I am familiar with Peter Schiff. His forecasts are based upon the Austrian School of economic theory which in its simplest forms believes in letting price rule….without government intervention. In 2008 their school of thought would of in my opinion put the U.S. in a very deep depression.
So it isn’t surprising what he is predicting. Could he be right…..of course he could. But for every intelligent economist predicting doom…there are an equal number predicting the opposite.
So what does one do……first and foremost…..manage your risk!!!!! You should be able to weather a 30% downswing in the market without losing any sleep or concern. Its similar to handicapping…a 30 unit downswing should be a walk in the park for you. If it isnt you have too much at risk!!!!!
This is the most important thing I can communicate to you when it comes to risking your money.
Now…..I think the best approach is to take the market as it comes and let the economists worry about what the future brings. I follow a handful of investment advisors that have weathered the test of time…and are not prone to getting worried about corrections or what the daily headlines bring. If they get cautious I get cautious. If not I trade my usual routines.
For those of you that want leveled headed analysis link up to http://www.marketminder.com/
This is part of Ken Fisher’s site. He is one of the advisors I listen to seriously.
I hope this gives you a bit of insight.