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LOL @ HJS...all you can to do is to give your self the risk tolerance test and find out where you are on the scale, more or less conservatice, bearish or bullish and go with it.
Stocks are the bargain of the day, but you can't predict the market by any means.
I'm going to have to listen to this 4 more times before i get it. but thanks great resource!
(can BL guests cause the market to go up and down?)
No single trader ever has a view of what the market is doing or is likely to do. They are just intermediaries, responding to orders from their clients, whose views or needs can change throughout the day. Moreover, no client ever gives their trader a good "look" at their strategy, for reasons of confidentiality. So it's no surprise that traders fail to predict big moves up or down.
Separately, it's worth noting that Buffett and Bogle both have tremendous vested interests in having investors retain confidence in stocks. Both are individuals of integrity, but their whole raison d'etre revolves around the stock market. Not surprising they would be advocating bottom-fishing.
One of the worst things for an investor is the fact that you can be right -- but so early that you lose $ for years. Horrible paradox.
David -- the guest -- thank you!
For decoding Buffet.
Another one he might remember:
During another banking crisis, the "Treasury Scandal" in the early 90s, Buffet came in as the "White Knight" and rescued Salomon Brothers.
He got an UNBELIEVABLE private deal on that one.
Does your guest think that house prices will come back?
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