Let’s Just Think About What All This Means…
Posted by Timothy Sykes on Tue 28th of Oct, 2008 03:55:19 PM
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I’ve been in the markets for 10 years now and have grown accustomed to being inundated by mutual fund giants like Janus, Vanguard, Franklin, Fidelity advertising “invest in our experience”, “diversification is the only sure way to win long-term”, “be bullish” and tons of other BS marketing slogans.
(Hell, despite my cynicism, I fell for it as I’m down $30k combined in “conservative” funds like VWELX and PRPFX)
This slow-motion crash has exposed all these snake oil salesman for exactly who they are.
With most mutual funds down in the 40% area on the year, yes, even conservative ones are down 30%, being bullish, staying diversified and their managers decades of industry experience prove none of these people practice any ideal investing strategy. None practice any safe strategy.
After all, no matter how many people/idiots follow a strategy, how marketing departments spin this collapse, and yes, it is an outright collapse, no ideal investment strategy should ever be down 40% on the year.
No ideal investment strategy should even risk being down 40% on the year.
Because while it’s possible everything will come back, it’s even more possible/probable everything won’t.
That means trillions of dollars have been lost/are still committed to flawed investment strategies all due to solid marketing/promotion.
And now the shit’s hitting the fan and everyone’s realizing they’ve been duped.
(And it’s pathetic hedge funds aren’t reaping the rewards as any short seller with 5+ trades experience should be banking right now.)
And it’s possible that all these dip buyers are getting themselves into even more trouble.
So what does all this mean?
Well, for one, it means ALL the finance books/models will need to be rewritten. Any finance major fresh out of college should be treated like an illiterate because their education manes exactly shit.
Hedge funds that haven’t collapsed, should be exited immediately because their hedging sucks, their managers haven’t learned the lessons in my ShortStocking DVD, basically, they were in the right place at the right time and still managed to screw it up..which is probly worse than the mutual funds which never really had a chance at profiting form this mess due to their flawed ideology.
Three, the highly despised world of traders and especially short sellers, more importantly, all those who practice quick loss cutting, like I preach in PennyStocking (you knew I was gonna bring it up, nobody up 150% in the last year should ever have a blog post without mentioning their educational products meant to teach others to do the same, if not better), are now kings of land.
We’ve proven–not through marketing/mainstream brainwashing, ney, we still can’t get no respect–that our strategies are better than those previously considered fit for everyone/superior.
Our egos, ticker tape reading and our eccentricities don’t matter anymore because we’ve proven we can make others money with what we believe in.
We’ve proven this smack in the face of all accepted investment theory and we’re loving every second of this, content to watch this joke of an industry go straight to hell–a hell it fully deserves–as we reap all the benefits, as no matter what we say or do correctly or incorrectly, nobody can take away the fact that we are the ONLY market practitioners to have not only made it out of this shitstorm alive, but far stronger than we’ve ever imagined possible…
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Related Reading
- LOL, So This Is What Mutual Funds Really Are…
- TIM September Review: Up 14%, PennyStocking Annihilates All Indexes, Strategies & Hedge Funds; Their Worst Month Is Our Best!
- October’s The Worst Month Ever And My Despised Little PennyStocking Strategy Is Up 12% & 161% On The Year aka This Industry Is Backwards
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TIM Trades
View All| Date | Stock | Buy | Sell | Net |
|---|---|---|---|---|
| Nov 6 | QXM | $4.31 | $4.80 | $1936 |
| Nov 4 | COT | $8.66 | $8.88 | $642 |
| Nov 4 | QXM | $4.61 | $4.89 | $822 |
| Oct 30 | DDRX | $25.70 | $26.53 | $812 |
| Oct 29 | CTDC | $4.00 | $4.42 | $781 |
| Oct 26 | AWSL | $3.24 | $4.10 | $2516 |
| Oct 23 | RODM | $5.27 | $5.23 | $301 |
| Oct 22 | AMLM | $2.69 | $2.97 | $820 |
| Oct 22 | USEG | $6.12 | $6.09 | $85 |
| Oct 20 | CBOU | $8.93 | $9.06 | $243 |
| Oct 16 | VRMLQ | $16.79 | $18.65 | $2773 |
| Oct 13 | YONG | $11.05 | $11.66 | $1202 |
| Oct 13 | NPHC | $0.59 | $0.71 | $583 |
| Oct 12 | IMGG | $0.60 | $0.70 | $682 |
| Oct 9 | ZAGG | $5.50 | $6.10 | $2380 |
| Oct 7 | GVBP | $0.03 | $0.27 | $702 |
| Oct 1 | NPHC | $0.70 | $0.85 | $1482 |
Total: $92,304 (644%)
