Wikinvest Wire
Wednesday, May 24, 2006
Now Negative For The Year
I just looked up and saw the S&P 500 print with a 1246 handle. The year end number was 1248. Doh!
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27 comments:
no offense but your observations are so banal I question why I bother reading them. stick to fire fighting
are you a member of my family?
hey fat ass, maybe someone would take you half way serious if you weren't pictured with some moronic look while holding an ice cream cone. Not only do I fear for your "clients", I fear for anyone in need of your out of shape ass trying to put out their fire.
I was an original subscriber to Stephen DeVita's Alchemy of the Trade blog, but finally, a few months ago quit because I was spending too much time reading his blog and just not profiting from it. I could care less about the monthly fee. I think that is what the above anon. comment is saying. Time is our most precious commodity and it must be converted to profitable uses, or else, at least I'm gone. Years ago I told Alan Abelson to forget trying to be humorous and concentrate on making his readers money and we'll all be a lot better off. Ergo, if I want humor I'll watch the Comedy Channel-please don't make your readers now say if we have a fire we'll call you, otherwise, see ya!
roger remind me of george costanza trying to eat ice cream at the US Open
Looks like he has the same 'athletic' build as George as well....
scratch that - after reading some of Roger's mind numbing blogs, he reminds me of Benny from LA Law.
1. People loose their sense of humor during declines
2. The down for the year comment adds to peoples worries and frustrations
3. Your normal insightful balanced comments are what is needed here
4. You really must not be thin skinned
KL
Not only are the rats leaving the ship, but they are making some really nasty comments on the way ashore.
OG
KL and OG, thanks.
My hide is quite thick.
The pessimism and extreme negetive sentiment out there leads me to believe a short bounce (maybe even up to the 2006 higs) is in order here.
During the last two months, the dilly dallying market not going anywhere made me nervous - so I sold some calls, sold stock and bought some puts. Now, I am buying some for a bounce trade. Buying HHH (internet holders), QQQQ, GLD, oils (IEZ, XLE) and biotech (FBIOX).
There, that should inject some optimism today........
Not a nervious nilly, BUT I own Third Millennium Russia Fund. It was up over 75% for the year then has lost 30%+ of value in the last week. Obviously for a fund, any fund, that is a BIG drop in a few week period. Does anyone have any input as to how this 5 star fund could lose so much in a few weeks?? It is diversified. Makes up 10% of my portfolio. Sell into panic or Hold????
re Russia fund;
don't know if you should sell or not but the pool of stocks it has to choose from is down a lot, how could the fund do anything be be fairly close?
The fund was up a lot only because the pool of stocks it can choose from was up a lot.
The rating means nothing.
It would be the same with a sector fund. If the sector is up the fund will be up and so on.
Lock in profit you moron or you can wait till it goes back to break even like this firefighter joke of a manager would do.
So what's with the negative comments? If you do not care for the blog, just do not bother to waste your time reading it. I happen to think the "logic" normally used in the discussions is sound. Maybe not for "hot shots", but for serious "investors".
Roger - ignore them
I agree with last post. If you can not stand site, go away - negative comments with personal attacks do no one any good. I enjoy a cautious/reasoned approach to go with some of the more aggressive blogs I read.
Roger, As somebody who regularly enjoys your wonderful blog (as well as Barry Ritzholz's and Bill Cara's), I want to register my shock at these puerile, mean spirited comments by somebody who obviously just lost a ton of money and feels terrible about himself. Just so you know, there are many of us out here who learn a great deal from your blog and will continue to in the future.
Just got in and checked the blog. I'll have to register my shock, also. I guess it's sort of like in '87 when brokers were hiding under their desks with guns....( I think one guy did get shot )
Losing money can bring out the worst in us. I pray this market does not seriously hurt anyone, but serves as a stinging reminder that "it's not that easy".
( Russia fund guy....are you kidding? The Morningstar ---Four Star rating only means it has been going UP....Four Stars = Hot Dot.
Buy some drug stocks or something nobody wants.
Roger...hang in there Buddy.
g
Roger,
On the 3rd Millennium Russia Fund - Lock in profits is hard when the fund is down 30% in a few weeks. What I am asking is do YOU think the Russian sector is collapsing in term of the fund or do you think thi sis a short correction on a fund that has gone up 50% or more each of the last 4 or 5 years??? I think the fund was way up becuase the stocks in it were up not the amount of stocks. If Russian stocks do well the fund will do well. What's your take on this and the fund????
This blog has been very useful
for thinking people.
Mean-spirited people come and go.
I have observed during my life that guttersnipes are their own worse enemies.Thankfully!
Best Regards.
HLP
Great blog Roger. Don't listen to the idiot who is posting nonsense about you.
Roger,
Your blog is quite enjoyable and authoritative. I read it every day! Keep up the good work man.
To anonymous 1,2 - this is juvenile. Come on ... besides, having you seen the pic of Roger jogging along - he looks pretty sevlte in that photo.
Jay Walker
The Confused Capitalist
??????????
time to buy this dip???
Rather out of order from your anonymous friend. I hope it's water off a duck's back for you.
Meanwhile, I've just seen the news that your SEC has OK'd ProFunds leveraged and inverse ETFs - not quite the first leveraged ETFs, as SocGen has been running them in Paris (on the CAC40 and FTSE EuroFirst) for a couple of months, but potentially useful. Do you expect to use them?
Well I am still not selling any here. But I suspect the rest of the year will be very interesting.
In other words people will stay on edge even if on December 31st things do not look that different.
I'm also amazed at the negative comments. If something is a waste of time, move on - there's lots else out there. At least engage in a debate.
Roger - I'm a daily reader & appreciate the thoughts. You had good balance and perspective over the last week or so. Seeing this as a "stress test" of the portfolio has been especially helpful in generating insights rather than sitting around being stressed (and being as as% hole to other people).
Keep doing what you're doing
Paul
Roger, can you remove the useless anonymous comments that are annoying? While I compliment you for the fact that you decide to let someone voice their opinion, on a blog like this, the only comments that really belong and should stay are the ones that provide information/debate on the subject matter: personal attacks don't belong here. Neither does this comment, to be honest, but I like your blog and don't like it being bashed by some anonymous coward.
I agree with IndusCreed. Removing the negative comments makes sense. I read your blog often and like your content.
I guess a down market does tick people off.
As for the Russia fund, Russia fell 11% last Monday and India fell 10% on the same day. Trading was halted in India for an hour while Russia suspended trading until Tuesday. Once the dust settles, I plan to continue investing in India.
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