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I was, am and will be...as best I can: my 'cash' to 'equities' ratio has been ~75/25 since I smelled the burning toast back in late 2007. Not clairvoyant, just lucky, pay attention, and read my skinny azz off, econ/biz-wise.
My gold buying, both std 'coins' and numismatic variety, over the past 5 years hasn't hurt either. ;>)
Not sure I agree or disagree with that clip, (he is simply one of several thousand with an opin), but there really isn't much any of us can do to really 'prepare', imo...
The younger gang here, with jobs, should be glad to have a job, and save like freakin squirrels, and the few of us RetiredBums are simply hanging on, trying to stem the erosion in our portfolios and nest eggs.
I remember the halcyon days of the Euro/EZ in its infancy, as I was VP of Strawberries, (both fresh & frozen), for a smallish co. ($~200+Mil in sales), of which we derived 60% of sales from 'outside the US', then. The hallways were buzzing with euro fever back then, and the CEO & CFO were working weekends to fiddle with our pegged exchange rate(s), and cost of goods transfer rates...
That old euro fever has evolved into a serious, chronic, could be fatal condition, a decade and a half later. But, the EZ is, in it's simplest, just a smaller,and less centrally regulated version of the world wide 'spending' without the dough or goods, or commonly verifiable collateral to back up that 'spending'.
Back to ThatTrader. Many will feel that he is the epitome of what the 'mkt' has become: simply a complex game manipulated so the smarter,luckier, faster bettor can make some dough on paper, vs the other guys, and the poor retail investor. It seems to me that no one on any biz talk show says anything without a motive...at least that guy admits it.
Not sure I have any advice, but the US Buck isn't really 'going anywhere', it is still The coin of the realm, and cash/cash equivalents, while offering very little in terms of 'gain', is not a bad place to be, for the past few years, and selectively for the foreseeable future.
My 50Cts, from the back of the 3M sticky note.
GL, mD
Last edited by motordavid; 09-27-2011 at 08:52 PM.
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