So after doing a stint at the Money Show this weekend I thought I would try to share a couple of observations. I've never been to one of these before so that being said there was a lot of microcap stocks with booths in the exhibition hall hocking their wares (trying to get their story out). There were a lot of tall, leggy (not so) supermodels that were part of this process as well.
I got a chance to meet a couple of blog readers who were kind enough to introduce themselves while I was taking my turn at the booth for GreenFaucet. It made for an easier time than trying to start a conversation dead cold.
Most of the folks attending were older. My comments about anything (for both panels I was on) were very consistent with the stuff I write about but I'm not sure how relevant my stuff about increasing or decreasing volatility was for them although one lady stood up asked about taking a flier on sugar so there you go.
I did several short video segments that should be on the Money Show website at some point with Karen Gibbs and she moderated the lunch panel I participated in. She was an anchor on CNBC in the mid 1990s (maybe longer than that) and I have nothing but good things to say.
As far as some actual content in the lunch panel we kind of harped on knowing what is under the hood of the ETFs that you buy. There seemed to be a feeling that people don't necessarily know when a stock makes up 15% of one fund and the potential consequences of that.
It also seemed that the audience at the lunch panel didn't know much about ETFs which is interesting given that everyone there cares enough about investing to go to an investing convention (of sorts) in the first place. So there is a long way to go in terms of furthering understanding.
The first panel was a discussion of the merits of fundamental investing versus technical analysis versus quantitative modeling. The quant guy was Dave Brown from Sabrient, Dave is literally a rocket scientist. The audience in this panel was smaller and seemed more engaged perhaps this group was a little more hands on with their investing.
While I have to honestly say I have had more fun at other events the bottom line that the folks going are going out of there way to try to learn more about investing. Presumably you are doing the same thing by visiting a site like this one or any market related blog. The importance of this is only going to increase if things that people fear are happening to the US are even partially correct.
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9 comments:
Presumably the true super models were at the Roubini booth
Speaking of looking under the hood, Hussman has his annual report linked today. I admire his thinking (as I think you do,) but I'm even more interested in his actions. I wonder if you'd do one of your endowment-type analyses of his allocations at some point?
Thanks, Roger and welcome back to the workaday world.
A "flier on sugar"? Jeez, good choice, that's one of the markets where price moves greater than 16 standard deviations are commonplace; good place to learn about volatility, you betcha.
Would have liked to have sat in on that first panel: I use some elements of all three -- fundamental and technical analysis and quantitative modeling -- but always interested in what the current thinking is (and ways to adjudicate when results disagree ...as they are doing in spades now).
Semi-OT but "jobless recovery" has been redefined as "economic purgatory" -- http://tinyurl.com/n8l9mw (good clip, the innumerate George Will excepted) -- which makes more macroeconomic sense and scratches my itch WRT the jarring notion that a modern, developed economy could be said to grow if unemployment were rising and/or personal income falling: Cool, two thousand zero zero party over ...tonight I'm gonna party like it's 1933.
Roger,
yestarday you had a post on the state where to retire, and had some thoughts. Here in Italy I pay 20% sales tax. I pay 130% in gasoline tax, yet it makes more sense to live in italy than to live in any state in the USA. I get free health care. After age 65 no ticket is payed. A ticket is a small token payment for prescription or any specialist visit. I lived in NY and would pay $8,000 in health insurance yet every year I payed a doctors checkup ad so on. So add another $ 4,000 in additional doctors+prescription.
I rather pay sales and gas tax and not worry about health care, because it is for free.
Another, as an Italian I think that the Italian goverment protects its citizens better that the USA. If an Italian becomes an hostage chances are that he will come out alive. If a US citizen becomes an hostige chances are that he will be delivered in a plastic bag. I RATHER PAY SALES TAXES IN ITALY AND GET ITALIAN DIPLOMACY.
Best,
Jeff from Milan Italy
I think you might be letting some political sentiment get in the way of a measured budget analysis.
Your sales taxes, over a lifetime, have amounted to an awful lot of money. You should be *expecting* free healthcare, not just appreciating it.
Steve,
you see, some of my peers went to canada because thet dodges the service instead of going to vietnam in the '70s. I have chosen Italy because a simple divorce became a deathtrap. And because sooner than later I would have become a scapegoat and be on deathrow. What I am saying that when I was young I would have gone to war and fight for freedom and our laws. However if that goverment is not able to apply the laws in a equal manner to all men and women than I will not be there to become a dead protestor. Life is more important than money. Without life you have nothing. I have been able to build a family and come out on top. Money comes later.
Best,
Jeff from Milan Italy
Would have liked to have sat in on that first panel: I use some elements of all three -- fundamental and technical analysis and quantitative modeling -- but always interested in what the current thinking is (and ways to adjudicate when results disagree ...as they are doing in spades now).
RW,
Any chance of looking under the hood here? What specific valuation metrics do you use, and what specific elements of technical analysis and quant do you utilize.
What do *you* do when valuation tells you maybe you have a screaming bargain, but technicals tell you to run away?
Thanks a lot for the panel. I was at the panel, although it was smaller then what I had expected the discussion was very helpful. As you said most of the demographics seem a bit older, however I'm in my 20's and I felt the discussion was exceedingly helpful.
It was a Sunday so one has to figured that the turn out wouldn't be as robust. I hope you return back to the MoneyShow again in some capacity in San Francisco.
Hope that you enjoyed your time in San Francisco.
thank you for the kind word and for sitting in on the discussion.
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