If you don't believe me, believe a sophisticated investor like Karl Denninger:
No, the test is whether you keep your money in a Bear market. Note that I didn't say "make money". I said keep your money.
If you have the same amount of money now in your investment accounts as you did at SPX 1576 in October, you are doing better than 90% of all institutional money managers and 95% of all individual investors. This puts you in the top 5% - and that's just by going to cash in October and sitting on your hands.
If you've actually made money since then, you're in the top 1%.
7 comments:
Sackers, explain how to make money in a bear market if you're not a Morgan or tied to an investment bank?
I am glad to see that I am in the top 1% then!!!!!
thanks for the good news :-D
Pej, James - I kept what little I had it in the bank.
... but if you're more of an adept and crazy for gambling, there's options and futures! Personally, I think horse-racing is more fun.
Well, you know how I feel about leaving my little money at a bank for them to speculate with it with a leverage of 10 or 20 times, and also have it crushed by the printing presses... Plus, as a citizen from the Eurozone, I feel already enough pain... It's really fun to me, but it's also a matter of pride & justice...
And of course, no way I give my money to a money manager (where not compulsory, like pension funds...).
I question the contention that only 1% can make money in a bear market. All you have to be is a stubborn, blinkered, contrarian, gold bug like myself.
Making money is then easy.
I decline to celebrate my modest investment success, since it might evaporate by the morning.
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