ALBERT HERTER

MY TAKE ON THE ‘CORRECTION’, TANKING OF THE MARKETS, AND WHAT MY GAME PLAN IS.

In Uncategorized on May 21, 2010 at 13:02

WE BUY ON THE SOUND OF CANNONS, AND SELL ON THE SOUND OF TRUMPETS.

AFTER 40 YEARS OF INVESTING I THINK IT IMPORTANT TO THINK ABOUT THIS:

THINGS ARE RARELY AS GOOD, OR AS BAD, AS REPORTED IN THE MEDIA.

THE DOW WAS DOWN 376 POINTS YESTERDAY. THE BIGGEST DROP SINCE FEBRUARY 2009.

AND  ON MARCH 9TH, 2009, THE MARKET HIT THE LOW AND IT WAS UP UP AND AWAY FROM THERE.

THE LATEST TANKING HAS MUCH TO DO WITH PUTTING PRESSURE ON THE POLITICIANS, E.C.B & THE I.M.F. TO PONY UP ENOUGH BILLIONS OF EUROS TO BAIL OUT THE GERMAN AND FRENCH BANKS THAT HOLD BONDS OF GREECE/PORTUGAL/SPAIN/ETC.

ON THE OTHER HAND, AS WARREN BUFFET WROTE JUST A COUPLE OF MONTHS AGO:

DEFENSE BEATS OFFENSE.

AND BERNARD BARUCH:

YOU NEVER GO BROKE TAKING PROFITS.

SO I’M HOLDING STILL AND WILL SEE WHAT TRANSPIRES OVER THE WEEKEND.

I’VE GOT PLENTY OF CASH SO THAT I DON’T HAVE TO SELL, OF COURSE.

MY POSTING ON FACEBOOK MARCH 1ST, 2009 WAS THIS:

‘I WOULD SELL IF I NEEDED THE MONEY FOR A HEART TRANSPLANT.

I’D BUT WITH MONEY I WONT BE NEEDING FOR TWO OR THREE YEARS.’

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