Friday, June 27, 2008
Here's what makes it worth it boys & girls...
I am always impressed when commentators tell us exactly what they are doing with their own money. anyone can talk economics, not many can push the trade button and make money.
thanks to yourself, FSense, Mauldin, Hussman et al, i have been on the case with this market for two years now. Personally, i thought the whole kaboudle would hold together until after the Olympics, so it came a little earlier than i was anticipating, but i had already sold most of my property, and got the last one away sharpish after the credit crunch revealed itself.
it amazed me how many financial wizards i spoke to didn't realise that this was the big one.
anyway, i am 46 sitting on a pile of cash, in Northern Rock, a 100% UK government protected bank, earning more interest than i was getting with HSBC (figure that one out?)
been selling the nasdaq, and whilst i have been very disappointed that due to moving, operations, and a whole bunch of other lame excuses, i haven't made a fortune, i haven't done too badly either. i still don't think most people have any idea what is actually happening, and that so much more pain is yet to come.
these are indeed historic times, and i just hope i can make the most of them. never had a job in my life, but am now retired, so long as i don't live like a pre-crunch american!
I am a silver bull, but scared that deflation will deflate even that, so not quite sure what my next smart move is, loading up on treasuries, i think, ready for when everyone starts eating reality soup.
keep up the good work, i have tried on many occasions to thank various individuals on FS, but emails just bounce right back
best wishes and good luck, if gold gets to 800, i may well participate, but on the other side of the mine in silver! --JB