Investors now have a 201K plan - Len Smith
The best commentary I've heard lately was on TV where the guy said he was diversifying: he's putting half his money under his mattress and the other half in a can buried in the back yard. - MarketWatch comment poster unclejohn
Banking problem explained (from rightontheright.com)
The next day he drove up and said, 'Sorry son, but I have some bad news, the donkey
died.'
Chuck replied, 'Well, then just give me my money back.'
The farmer said, 'Can't do that. I went and spent it already.'
Chuck said, 'OK, then,just bring me the dead donkey.'
The farmer asked, 'What ya gonna do with him?
Chuck said, 'I'm going to raffle him off.'
The farmer said 'You can't raffle off a dead donkey!'
Chuck said, 'Sure I can Watch me. I just won't tell anybody he's dead.'
A month later, the farmer met up with Chuck and asked, 'What happened with that dead
donkey?'
Chuck said, 'I raffled him off. I sold 500 tickets at two dollars apiece and made a profit
of $898.00.'
The farmer said, 'Didn't anyone complain?'
Chuck said, 'Just the guy who won. So I gave him his two dollars back.'
Chuck now works for Goldman Sachs.
1 comment:
yes, how appropriate - the joke, I mean, especially with the oil price claim you quoted in Barrons. I recalled immediately that it was a Goldman analyst that made the $200 oil call when the price hit the $147 level, and oil started trading lower from that point on. I always wonder if Goldman truly believes in what they say. How can the company be such an epitome of success when they make such calls on price. Do they even act on their own calls...
Anyway, market seems to be "drifting" lower based on lack of buyers and not due to overwhelming selling pressure. I am thinking the only big story left is the plan for jobs from the incoming administration. What I don't understand is why the market is not discounting the recovery well in advance and making the move higher.. may be the market knows more about the plan than we do?
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