Are we headed for a world wide meltdown?

[rexdutchman]

Yes and puddins and chief is at the wheel

[WTF]

Originally Posted by rexdutchman

Yes and puddins and chief is at the wheel

The Fed is at the wheel.

And they say not to bet against the Fed

[Why_Yes_I_Do]

She dang! I was just going to congratulate the Cptn on providing free and insightful education to the poor widdle fella - gratis. Normally one has to pay the big buck-os to attend a lengthy and often boring seminar and sign up for hundreds of dollars in materials and DVDs and end up on a SPAM list for a decade. Shortest path between two points in my book.

Oh sure, we will probably have to step over the little fella on a San Francisco street corner or go around him to avoid getting some of his pooh on the bottom of our shoes...

Originally Posted by Chung Tran

So you're essentially proud of yourself for taking advantage of a young person, who had high hopes for his future, in the Market for the first time, but who didn't understand he could get crushed? A young person who now will disengage, and view Markets with suspicion? A young person who will drop out, and never accumulate wealth over his lifetime?




Nice job!

[texassapper]

Originally Posted by Chung Tran

So you're essentially proud of yourself for taking advantage of a young person, who had high hopes for his future blah blah blah...

As if you care...

[Chung Tran]

Originally Posted by texassapper

As if you care...

Sapper, you need new batteries for your sarcasm meter.

[Texas Contrarian]

Originally Posted by Chung Tran

So you're essentially proud of yourself for taking advantage of a young person, who had high hopes for his future, in the Market for the first time, but who didn't understand he could get crushed? A young person who now will disengage, and view Markets with suspicion? A young person who will drop out, and never accumulate wealth over his lifetime?




Nice job!

Originally Posted by lustylad

You're kidding, right? I assume your comment is tongue-in-cheek. But if it's not, you must've overlooked the part where CM said even "some of their ardent fans began fearing that they were likely to get crushed like stepped-on crickets as soon as the big players start ramping up operations in the EV space."

So CM cashed in his shorts at the same time your fictitious "young person" knew it was time to bail as well. How is that taking advantage of anyone?

You obviously don't have a clue how markets work (again, assuming your post wasn't meant as humor) if you think the first time a fledgling investor loses money he/she should "disengage" and timidly flee forever lol.

Lustylad is exactly right. You need to learn something about how markets work. Investing in or trading risk assets is not for snowflakes. Financial markets have a way of seeming quite unforgiving to the naive and the inexperienced. If you don't want to someday be in your 70s or 80s and broke, you should make an effort to learn how they work.

Here are a few places to start:

The Intelligent Investor, by the legendary Benjamin Graham. The original edition was written way back in 1949. Although much has changed since then, so very much remains the same. (I decided many years ago that if Buffett refers to a book as probably the best book on investments ever published, I'm damned sure going to read it!)

A Random Walk Down Wall Street (1973 with several updated editions) by Burt Malkiel. It should disabuse you of the notion that frequently trading in and out of markets on a whim is easy, or even remotely wise, especially for naive amateur investors.

Contrarian Investment Strategy (1980 with an excellent sequel around 1985) by David Dreman. It's a legendary work on value investing, and I've sometimes said that I credit it with adding at least a few percentage points to my net worth.

More recently:

Mastering the Market Cycle by Howard Marks (2018). The author has been highly lauded by both Buffett and Munger. (Need I say more?)

And, just for history's sake, going way back (1841!)

Extraordinary Popular Delusions and the Madness of Crowns by Charles Mackay. A highly entertaining read; a classic. (And a must-read for every student of market history!)

https://en.wikipedia.org/wiki/Extrao...ness_of_Crowds

.

[texassapper]

Originally Posted by Chung Tran

Sapper, you need new batteries for your sarcasm meter.

Due to government mandate, it's running on green energy now so, you get what you get.

[Tiny]

Originally Posted by CaptainMidnight

Lustylad is exactly right. You need to learn something about how markets work. Investing in or trading risk assets is not for snowflakes. Financial markets have a way of seeming quite unforgiving to the naive and the inexperienced. If you don't want to someday be in your 70s or 80s and broke, you should make an effort to learn how they work.

Here are a few places to start:

The Intelligent Investor, by the legendary Benjamin Graham. The original edition was written way back in 1949. Although much has changed since then, so very much remains the same. (I decided many years ago that if Buffett refers to a book as probably the best book on investments ever published, I'm damned sure going to read it!)

A Random Walk Down Wall Street (1973 with several updated editions) by Burt Malkiel. It should disabuse you of the notion that frequently trading in and out of markets on a whim is easy, or even remotely wise, especially for naive amateur investors.

Contrarian Investment Strategy (1980 with an excellent sequel around 1985) by David Dreman. It's a legendary work on value investing, and I've sometimes said that I credit it with adding at least a few percentage points to my net worth.

More recently:

Mastering the Market Cycle by Howard Marks (2018). The author has been highly lauded by both Buffett and Munger. (Need I say more?)

And, just for history's sake, going way back (1841!)

Extraordinary Popular Delusions and the Madness of Crowns by Charles Mackay. A highly entertaining read; a classic. (And a must-read for every student of market history!)

https://en.wikipedia.org/wiki/Extrao...ness_of_Crowds

.

Chung Tran was most likely being sarcastic. You're respected by most on this board, probably including CT.

I haven't and won't read A Random Walk Down Wall Street. That would be like Lusty Lad reading the Communist Manifesto. I don't believe in the efficient market hypothesis.

I've read the rest save Marks' book and agree they're worthwhile. I believe though that buying shares just based on historical ratios like price/book, price earnings, and market cap/net current assets can backfire. You might come away with that view after reading the Intelligent Investor and The New Contrarian Investment Strategy. It pays to do your research and try to understand the company, like you would if you were buying any business.

For more advanced students, the following are worthwhile,

1. Security Analysis by Graham and Dodd. This is a textbook. Graham's case studies are instructive.

2. Value Investing, from Graham to Buffett and Beyond, by Greenwald et al.

3. and 4. Two books by Greenblatt with deceptive titles, The Little Book that Beats the Market and You Can Be a Stock Market Genius

5. Margin of Safety, by Seth Klarman

6. Common Stocks and Uncommon Profits, by Philip Fisher. Fisher didn't just look at numbers. He'd visit companies with legal pads and take pages of notes. And talk to competitors, employees, suppliers, etc.

The first four books were written by people who taught at Colombia business school. Graham, Greenblatt, Klarman and Fisher all had excellent records as investors.

If you were only going to read one, I'd recommend Greenwald's book. He's most likely a terrible investor from what I've heard, but remember the adage "Those who can't do teach." Well, he inherited the "Value Investing" mantle at Colombia from Graham and successors, and he's a damn good teacher. I like his case studies. Also the concepts in the book, which come in part from talking with people like Buffett (also a Colombia grad) are worth considering. They include calculating cycle-adjusted earnings, substituting maintenance capex for depreciation, looking at the value of a company's assets and liabilities piece-by-piece, and determining how fast a company is able to grow and still generate good returns.

[HedonistForever]

Yes!!! and it ain't gonna be pretty.

[bambino]

I think Tiny has a bromance with Captain Midnight. Can’t wait for the review.

[Texas Contrarian]

Originally Posted by Tiny

Chung Tran was most likely being sarcastic. You're respected by most on this board, probably including CT.

I haven't and won't read A Random Walk Down Wall Street. That would be like Lusty Lad reading the Communist Manifesto. I don't believe in the efficient market hypothesis.

I've read the rest save Marks' book and agree they're worthwhile. I believe though that buying shares just based on historical ratios like price/book, price earnings, and market cap/net current assets can backfire. You might come away with that view after reading the Intelligent Investor and The New Contrarian Investor Strategy. It pays to do your research and try to understand the company, like you would if you were buying any business.

For more advanced students, the following are worthwhile,

1. Security Analysis by Graham and Dodd. This is a textbook. Graham's case studies are instructive.

2. Value Investing, from Graham to Buffett and Beyond, by Greenwald et al.

3. and 4. Two books by Greenblatt with deceptive titles, The Little Book that Beats the Market and You Can Be a Stock Market Genius

5. Margin of Safety, by Seth Klarman

6. Common Stocks and Uncommon Profits, by Philip Fisher. Fisher didn't just look at numbers. He'd visit companies with legal pads and take pages of notes. And talk to competitors, employees, suppliers, etc.

The first four books were written by people who taught at Colombia business school. Graham, Greenblatt, Klarman and Fisher all had excellent records as investors.

If you were only going to read one, I'd recommend Greenwald's book. He's most likely a terrible investor from what I've heard, but remember the adage "Those who can't do teach." Well, he inherited the "Value Investing" mantle at Colombia from Graham and successors, and he's a damn good teacher. I like his case studies. Also the concepts in the book, which come in part from talking with people like Buffett (also a Colombia grad) are worth considering. They include calculating cycle-adjusted earnings, substituting maintenance capex for depreciation, looking at the value of a company's assets and liabilities piece-by-piece, and determining how fast a company is able to grow and still generate good returns.

Well, yeah, maybe Chung Tran was being sarcastic! Who knows? Sometimes it's not always easy to tell. Apparently Chung Tran was not sure I was being sarcastic when I posted this:

https://eccie.net/showpost.php?p=106...0&postcount=59

I thought my sarcasm here was rather obvious -- but maybe not!

All of the books you mentioned are excellent. Especially, in my view, Value Investing (Greenwald.)

Common Stocks and Uncommon Profits (Fisher) is also a favorite.

I read the epic Security Analysis (Graham and Dodd) during my 2-year stint as a Merrill broker (1974-76). When I was a rookie there, we joked that it was almost considered a "homework assignment!" It's a must-read for the serious student, but rather heavy going for those disinclined to study markets very deeply.

I am not a believer in EMH either (well, OK ... I sort of halfway do with regards to some areas, but allow as to how it breaks down frequently.) Malkiel also allows as to how it's inapt in many areas, too. The reason I recommend the book to inexperienced investors is that he makes the case for investing long-term in broad-based funds like those offered by Fidelity and Vanguard. The book would not be useful except as a curiosity to a more experienced and knowledgeable investor like you.

But it offers valuable advice to the guys who speculate constantly on the latest EV stock flavor of the month, or all the meme stocks when they're ridiculously overvalued yet all millennials read about on social media sites!

Most of these people would do much better just to dollar-cost-average into some solid funds and spend their efforts on career or profession, not wasting time on checking the screen 100X/day to check how their bitcoin and Robinhood/WSB flavor-of-the-month stocks are doing!

And you guys haven't read the Communist Manifesto? I have! (Actually, a pretty good narrated English-language translation). Important part of history (although sadly, responsible for more death and destruction than any other piece of work -- even Mein Kampf).

.

[Texas Contrarian]

Originally Posted by bambino

I think Tiny has a bromance with Captain Midnight. Can’t wait for the review.

Aren't you in the passionate throes of a bromance with Q?

Didn't he tell you that Russia is now on the gold standard? (LOL)

.

[Yssup Rider]

Might have been one of them Jewish Space Lasers.

[Yssup Rider]

Originally Posted by rexdutchman

Yes and puddins and chief is at the wheel

Ingles por favor.

How’s your sponsor, oeb11?

[Texas Contrarian]

Originally Posted by Yssup Rider

Might have been one of them Jewish Space Lasers.

You have a good point. Bambino and Q are both huge Marjorie Taylor Greene fanboys.