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14 comments:
Hope everyone listens to what Hendry has to say: The greater danger is still deflation and the growing chatter that we should watch out for bigger government deficits and cut stimulus (along with taxes too of course, can't forget that) creates a wind blowing us back towards the edge of the cliff rather than away from it.
Those investing under the supposition that hyperinflation is immediately around the corner are very likely to experience disappointment (or something worse).
Mr. Hendry is a genious however what about mr. Nightgale(?) a complete idiot. Thanks for bringing that to us since I no longer watch CNBC.
Jeff from Milan, Italy
i tihnk you mean Roger Nightengale. never noticed his being that dumb, he never made much of an impression either way, i'll have to pay closer attention the next time he is on
To be exat Roger Nightingale from Pointon York.
Jeff from Milan Italy
Love Hendry, but never found Roger Nightingale to be bad either. Also like Mish and Hussman.
None the less I am almost fully invested. I believe the stimulus, move above 200 dma, golden cross, a belief in green shoots (valid or not), fear of missing more of this rally, will keep it going a while longer.
To be good or great one must be original. Hendry is original. Soros who recently riteried is original. Buffett is original. Roger is original. I am not talking about if a person has a good coheseve presentation. Nightingale during late 2007 early 2008 when he was taking questions from the public he was encouraging investing in a pension fund like IRA keo in Citibank at 45 because the divedends were "ok". That really stuck in my mind. After the mid 2008 Hendry came on CNBC and sayed that he was a seller while "idiots were buying". Someone was the smart trader and the other the "idiot" trader. I have found that Nightingale usually lags by much. So if he is saying something in the show it is already gone. It is past and history. The difference in investing is to be ahead of everyone, that is what captures the performance. You do not want a person that tells you what has already happened only if it is about to repeat again. The name of this game is who can be there or maybe a bit early or even a little late. I am talking about that if the market is going down 58% at least go into a defensive position and not reccomend to invest into Citibank at 45 when it is a pension account. In a huge market like today's as investor we have many options (plays) one can deploy. Roger has talk about this many times, it is better to whatch, read and educate oneself before one pulls the trigger, Nightingale pulled the trigger before he did any reading or watching. Citybank has even the history of failures back in early 90's.
Best,
Jeff From Milan Italy
Victor Neiderhoffer. I forgot about Roy. He's the one who still has some $$ right? I like that kind of abstract thinking. Especially when Victor starts comparing the market to Beethoven's 5th.
Roy was just profiled in Barrons as doing quite well.
I don't follow Victor close enough to know if he is currently on the horse or has fallen off.
Jeff from Milan,
Nightengale may have made a big mistake. That can happen to any of us. He is really not that bad IMO
I like you are truly impressed with Hendry though, but he makes mistakes also. Everybody does
If you look at California then you see an extreme example of the country.
There are 4 types of Californians:
1. People that moved here before 1978 and pay little taxes due to Prop 13. These people stay because their life is subsidized by group #2.
2. Hard working private labor that moved here after 1978 and pays most of the bills. These people and frims are leaving in droves.
3. Public employees that feel they have a "right" to get subsidized living due to "high" cost of living (mostly due to Prop 13)
4. illegal Mexicans that pay not taxes and push down labor costs.
As Group #2 leaves California, there is no money left. I predict CA home prices could go all the way back to 1978 prices and be on par with coastal Florida (70K for condos + 250K for a family home).
Let us hope that the market does take care of California and destroys the state so that if can get back to being a UNITED STATE WITHIN AMERICA.
and not a socialist, latino criminal 3 tier state that subsidized 3 classes of people based on the salary of the single prive working labor class.
Roger, I was checking the weather radar this evening and noticed a huge cell south of Prescott. Did you get hit pretty bad?
http://tinyurl.com/nyx994
Some readers who enjoyed Hendry (thanks for posting that video, I'm not familiar with him), may enjoy Sandra Ward's interview with Ray Dalto--link above.
hit pretty bad? we had a lot of rain for a couple of hours with thnder and lightning. rain is always very welcome here so bad is in the eye of the beholder.
They don't let guys that smart on US CNBC.
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