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Message
Remember when the Royal Bank of Scotland said "sell everything?"
Posted on 4/19/16 at 8:12 am
Posted on 4/19/16 at 8:12 am
LINK /
Back in January the Royal Bank of Scotland told investors to sell everything except high quality bonds.
During this same time period, Charles Gasparino of Fox Business News said, "I don't give investment advice to individual investors, but all I can tell them is what the big time hedge fund investors are telling me...they are selling everything and not buying anything."
And Jim Cramer of CNBC was telling his callers that he couldn't recommend buying anything at this time because the market was looking so bad.
He turned out to be totally wrong. That was precisely the time when people should have been buying as much stock as they could afford.
Boy, am I glad I didn't listen to those shmucks!
I'm not going to tell you guys how much wealthier (at least on paper) I am today because I didn't panic and listen to those "experts." You would accuse me of bragging.
Back in January the Royal Bank of Scotland told investors to sell everything except high quality bonds.
During this same time period, Charles Gasparino of Fox Business News said, "I don't give investment advice to individual investors, but all I can tell them is what the big time hedge fund investors are telling me...they are selling everything and not buying anything."
And Jim Cramer of CNBC was telling his callers that he couldn't recommend buying anything at this time because the market was looking so bad.
He turned out to be totally wrong. That was precisely the time when people should have been buying as much stock as they could afford.
Boy, am I glad I didn't listen to those shmucks!
I'm not going to tell you guys how much wealthier (at least on paper) I am today because I didn't panic and listen to those "experts." You would accuse me of bragging.
6
Posted on 4/19/16 at 8:18 am to samson'sseed
Buy when others are fearful, sell when others are greedy.
Posted on 4/19/16 at 9:04 am to samson'sseed
I wasn't even aware RBS or Jim Cramer were saying anything, since I ignore them anyway. I just kept buying.
Posted on 4/19/16 at 9:15 am to samson'sseed
JPM kept saying don't buy the dip as well. I bet they have some pissed off clients!
Posted on 4/19/16 at 9:15 am to samson'sseed
Two things:
1) The stock market, as measured by the S&P 500 index, fell over 100 points (4+%) between the time of the article you linked and mid-February.
2) Their advice was for the year 2016. 2016 is not over yet. I didn't take their advice but your celebrating is premature.
1) The stock market, as measured by the S&P 500 index, fell over 100 points (4+%) between the time of the article you linked and mid-February.
2) Their advice was for the year 2016. 2016 is not over yet. I didn't take their advice but your celebrating is premature.
Posted on 4/19/16 at 9:21 am to LSURussian
quote:
your celebrating is premature.
Unless he sells soon.
The market is nuts. I heard yesterday all the reasons were there for a dip, but it rallied on the back if Matell toys beating earnings.......I'm thinking, a toy company had an effect on the markets?
Posted on 4/19/16 at 9:24 am to samson'sseed
quote:
Boy, am I glad I didn't listen to those shmucks!
And now they're telling you to buy as much as you can and your are?
Posted on 4/21/16 at 7:35 am to TigerDeBaiter
No, I'm not buying anything except an order for a preferred bank stock, if it dips by 91.5 cents.
I have a few I want to sell, if the market goes higher.
I have a few I want to sell, if the market goes higher.
Posted on 4/21/16 at 7:42 am to samson'sseed
I wouldn't call them wrong yet. The market is NOT following the economy. Companies are defaulting at very high rates right now (not just oil). There is no good reason for this disconnect.
I'm not saying time the market but their advice still looks sound to me.
I'm not saying time the market but their advice still looks sound to me.
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