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Keyboard worrier
Monday, November 12, 2007
Tear your eyes away from the gold watch
A sound article from Clif Droke, about psychology, avoiding the extremes of bulls and bears, and remembering that being a contrarian means going upbeat when the crowd feels down.
I must take my eyes off the gold watch I must take my eyes off the gold watch I must take my eyes off the bear watch I must take my eyes off the doom watch
I said I watched the bears, not held a brief for them. The problems certainly are there, what I (and, it seems, most other people) don't know is exactly how the situation will play out and so what we should do to hang on to what little we've got. Is it to be inflation, deflation, or first one and then the other?
I tend to caution, so my instinct is to shed debt and then see how I feel about gambling with any surplus. Though it seems obvious that resources like oil are limited and so natural resources, plus anything else that governments can't multiply (e.g. gold), must be a good long-term punt.
Not being rich, I'm concentrating on the first part for now.
Do keep reading, though - I appreciate your encouragement.
Contrarian is fine as long as you have eitehr the resources or the gall to back it.
Sackerson, having quoted you last evening and realizing you don't visit these days, still - I'd like your misgivings on what I wrote about the market, if only to know if it's on the wrong track.
3 comments:
an excellent header, Sackers !
I must take my eyes off the gold watch
I must take my eyes off the gold watch
I must take my eyes off the bear watch
I must take my eyes off the doom watch
Hi Nick:
I said I watched the bears, not held a brief for them. The problems certainly are there, what I (and, it seems, most other people) don't know is exactly how the situation will play out and so what we should do to hang on to what little we've got. Is it to be inflation, deflation, or first one and then the other?
I tend to caution, so my instinct is to shed debt and then see how I feel about gambling with any surplus. Though it seems obvious that resources like oil are limited and so natural resources, plus anything else that governments can't multiply (e.g. gold), must be a good long-term punt.
Not being rich, I'm concentrating on the first part for now.
Do keep reading, though - I appreciate your encouragement.
Contrarian is fine as long as you have eitehr the resources or the gall to back it.
Sackerson, having quoted you last evening and realizing you don't visit these days, still - I'd like your misgivings on what I wrote about the market, if only to know if it's on the wrong track.
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