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Post by BigPuddin on Sept 24, 2006 22:11:56 GMT -4
If one is skeptical of the markets,making a decent living, and looking for a way to save/invest for retirement, what is your personal(not as a financial advisor) recommendation at this point given the state of the market? TIA -Puddin
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Post by bobo on Sept 24, 2006 22:13:33 GMT -4
Why do you think, you can lay all this stuff out cold and 80% of the people off the street that see and here it, will forget it in 24 hours? Are we a new generation of walking and talking freaking zombies? --------------------- That's a complex question. We are a nation that has largely been dumbed down. It's taken a while. Really started in the 60's. I was struck the other day, when I was watching a roundtable discussion with, I think it was, Malcolm X, Martin Luther King, some other activists of their time, and I was listening, and I was just struck by their command and use of the language, their dexterity, and power of reason. It was just incredible - and then I considered our current offering of leaders in social issues...and I'm appaled by their quality. It is an education driven gap, and it further separates the Harvand educated from the rank and file. We have been dumbed down. We are raised on TV, and most thing watching reality shows or Judge Judy is what passes for news. We are a nation of consumers, and our grasp of our essential rights and self-determination have been replaced with a thirst for Snapple and a jones for a new Humvee. If you want to be really cynical, you could wonder aloud as to who benefits from a nation filled with ADD adults more interested in the next episode of Fear Factor than who is stealing their savings...
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Post by kranker on Sept 24, 2006 22:13:34 GMT -4
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Post by bobo on Sept 24, 2006 22:16:27 GMT -4
If one is skeptical of the markets,making a decent living, and looking for a way to save/invest for retirement, what is your personal(not as a financial advisor) recommendation at this point given the state of the market? TIA -Puddin ---------------------- Honestly? Put it in international real estate, where Americans fed up with the rat race will decide to spend their golden years. I look at property values in Mexico and Costa Rica and in areas of Central America, and they are doubling and tripling every few years. Is there risk? You bet. But at least if you are going to be robbed by a central american bandito, it will be more honest then the treatment you will get from your broker. That's just me. I also think Gold will increase as the dollar weakens. I wish I had a better answer for you. It's ugly out there.
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Post by bobo on Sept 24, 2006 22:17:36 GMT -4
--------------------- Same answer. They own the system. That's why. But it's our system, and we can take it back through the courts. That's the answer.
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Post by kranker on Sept 24, 2006 22:18:13 GMT -4
"But at least if you are going to be robbed by a central american bandito, it will be more honest then the treatment you will get from your broker."There you go BigPuddin! LOL
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Post by kranker on Sept 24, 2006 22:20:22 GMT -4
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Post by bobo on Sept 24, 2006 22:20:37 GMT -4
------------------------------ Yup. They so picked the wrong guy to take on.
Imagine going through that, and then ask yourself: What are you afraid of?
Answer? Nothing in this world. Bring it on. I'm having flashbacks of all the television interviews where the criminals, both media and hedge fund lackeys, we disrespecting Patrick Byrne. All of those losers together are not qualified to carry his jock strap, but someday they may be doing just that...with any luck. ------------------------ I know him pretty well, and you have that nailed cold. How many CEOs would do what is right, versus what is expedient or convenient? He is one in a million, and Wall Street hates his guts with a passion I've rarely seen displayed. What kills me is that they don't seem to get that he doesn't embarrass, so mockery doesn't work. They've made that mistake for a few years now, which just goes to show they aren't all that smart. If something isn't working, change what you are doing. Patrick has flushed better than them many times. And I sense that a few of them recognize that, and it infuriates them. It should.
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Post by bobo on Sept 24, 2006 22:23:45 GMT -4
------------------------ No, but the best and most honest coverage on this whole mess early on was out of the UK. The NY press is completely co-opted by Wall Street. They are captured. And they lie, and distort, and rationalize their dishonesty with a veneer of contempt for their readers. You can imagine that I won't be doing the keynote at the NY press club lunch this year, huh?
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Post by kranker on Sept 24, 2006 22:29:02 GMT -4
------------------------ No, but the best and most honest coverage on this whole mess early on was out of the UK.
The NY press is completely co-opted by Wall Street. They are captured. And they lie, and distort, and rationalize their dishonesty with a veneer of contempt for their readers.
You can imagine that I won't be doing the keynote at the NY press club lunch this year, huh? I had to sift through fifty regurgitated headlines reading derivatives of "Hedgefunds don't need no stinking regulation" to find that one. Here's another one that's going to hurt, Amaranth investors locked in for four years William Hutchings 25 Sep 2006 Investors in Amaranth Advisors, who last week lost 65% of their investment, may have to wait up to four years before they retrieve what is left of their money. The US hedge fund, which managed $9.5bn (€7.5bn) at the end of last month, placed stringent restrictions on investors that wanted to redeem capital, according to an investment consultant. Investors had to commit to keeping their money with Amaranth for at least a year. The company can also restrict the amount of redemptions it pays out in any quarter to 7.5% of its total funds, said the consultant. It has also emerged that Amaranth could start earning performance fees almost immediately if it survives. Unlike many hedge funds, Amaranth has no “high water mark” and collects performance fees every quarter, instead of each year. As a result, investors may have to surrender 20% of any performance in the final quarter of this year, despite having lost $6bn. Amaranth’s losses have prompted calls by US politicians for a clampdown by regulators on the hedge fund industry. Connecticut attorney-general Richard Blumenthal, who oversees the state where many hedge funds are located, said: “The facts about losses by Amaranth offer powerful evidence about the need to reform disclosure and oversight requirements.” It has also emerged that Amaranth wrote to the US Securities and Exchange Commission in 2004 arguing against tougher regulation, saying: “Amaranth does not ‘operate in the shadows’ outside of regulatory scrutiny.” In addition, it arranged a special three-year exemption from regulation in Canada, where its energy trading team was based. Amaranth’s prime brokers have also come under fire for failing to spot its problems until it was too late. www.financialnews-us.com/?page=ushome&contentid=1045524482
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Post by kranker on Sept 24, 2006 22:31:29 GMT -4
Does anyone have anything else for Bob O'Brien?
No countefeit shares please...
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Post by midget on Sept 24, 2006 22:32:22 GMT -4
------------------------ No, but the best and most honest coverage on this whole mess early on was out of the UK. The NY press is completely co-opted by Wall Street. They are captured. And they lie, and distort, and rationalize their dishonesty with a veneer of contempt for their readers. You can imagine that I won't be doing the keynote at the NY press club lunch this year, huh? Keynote NO topic YES
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Post by bobo on Sept 24, 2006 22:32:24 GMT -4
Without the internet, this counterfeiting crap would have proliferated unchecked for decades more. Make me wonder what the criminals were doing before we could all communicate without sending each other letters... ----------------------- The Internet changed everything. It would have taken a decade to put the pieces together. Now, we can communicate and share data at lightning speed. It's really cut into their action. You can see why totalitarian regimes try to limit access to the Web. They recognize that knowledge is power, and they are correctly afraid of it. They've been doing bad things for many years. But it is only since the NSCC and the DTCC merged that the fox owned the henhouse. I think that we are seeing the worst it's been since the 1920s. And that didn't end well.
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Post by BigPuddin on Sept 24, 2006 22:33:40 GMT -4
Thanks again, Bobo! A great pleasure having you online with us tonight! -Puddin
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Post by jannikki on Sept 24, 2006 22:34:31 GMT -4
Just let us know how we can combine our efforts and support thesanitycheck.com and Patrick Byrne. We'll do our part.
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