That word is “BUY”.
So I am in my car a lot and I usually keep an AM talk radio station on.
On the weekends there are a few “Investment Advisors” that have weekly shows. For years I have listened to their advice more for personal entertainment purposes.
I listened through all of 2007 and 2008 when every weekend they said: “Now is the time to buy this dip in the stock market”. Every weekend without fail it was the same thing.
I hadn’t heard any of their shows for a while but in December 2009 when the Dow was above 10,500 and the S&P was above 1100 I was curious if they had maybe FINALLY turned cautious on the market. I mean the market had rallied about 70% from the levels in March and valuations on stocks were higher than pretty much any point in history aside from the Tech bubble in 2000.
I turned on the radio and I heard this:
http://www.fileden.com/files/2010/1/31/2745273/BUYBUYTheMutualFundShow_12-05-09.mp3
I learned from this that it does not matter WHAT the market does, these “Financial Advisors” will always say the same thing. BUY, BUY, BUY!
It reminds me of an old adage, never ask a barber if you need a haircut.
Sunday, January 31, 2010
Thursday, January 21, 2010
Wednesday, January 6, 2010
2010 will be what 2009 should've been
Thus I'm lightening up on my positions. MCD & JNJ sold for 6 and 10% profits. KO sold for a 12% profit. Averaging down on HSY.
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