You don't blindly invest for an indefinite time period either. Cramer was dead wrong again. The guy's credibilty goes for less than Bear Stearns did today.
By the way, the days of "buy and hold" investing (i.e. ostrich head in the sand technique) are dead.
Yep.Originally Posted by burgundy
I saw him being questioned about that today on some random CNBC show. He explained it as meaning, if you have your money IN Bears, not invested, it's perfectly safe to keep there. Whether he's back peddling or not his explanation of what he meant by that quote seems perfectly reasonable.
One could say the buyout was/is delaying the inevitable. The world is quite built up around the US money machine which is sadly built up on magic mystery money (read: debt). If anything the rest of the world will buy us out just to keep our consumption at its record highs. Another depression may occur due to what's happening right now.
Although we could start discussing cereal futures instead maybe?
http://www.fvza.org/index.html
You're grossly simplifying the issue.
I really can't discuss this though, I have been gagged on yet another major legal issue. : (
So banks throughout the US are essentially crashing?
This could get really messy real quick.
How much you wanna bet that Bush's solution for this is "WE NEED ANOTHER TAX REFUND OF A FEW HUNDRED DOLLARS!!!!"
You sir, are a hideous hermaphroditical character which has neither the force and firmness of a man, nor the gentleness and sensibility of a woman.
So I'm reading more about this Bear Sterns thing... we're kinda goosed, aren't we?
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