"dont worry, be happy crowd" getting worried yet?

gonebroke2 · #1 03-13-2007, 06:35 PM

Are you guys still optimistic on the economy? We are currently in a recession; domestic auto industry falling apart and now housing is going down the tubes. Subprime blowup is just the beginning. It is going to be like a virus, first it infects the subprime, then the ALTA and then the prime. I hope you guys are short the DOW or at least long gold.

Although Gold is not performing as great as I thought it would be, it is still outperforming the DOW and will for the next several years. Per Yahoo Finance, GLD (gold ETF) is up 5.69%, SLV (silver ETF) is up 9.80% and the DOW is
-3.11%. Ouch.

Still can't believe people are selling their gold and putting them into treasuries. Have people lost their mind.

Before I go, I want to put a link to article about Lou Dobbs who said "I have no faith in inflation numbers." Finally, someone in the mainstream media willing to tell the truth.
http://www.newsmax.com/money/archive...3/9/111424.cfm

ahnuld · #2 03-13-2007, 06:45 PM

Lou Dobbs has some of the most backwards understanding of economics ive ever heard

ahnuld · #3 03-13-2007, 06:45 PM

Also, who cares about the auto industry besides overpaid, inefficient unionized auto workers?

dopp16 · #4 03-13-2007, 07:22 PM

Is this a serious post?

dopp16 · #5 03-13-2007, 07:30 PM

[ QUOTE ]
I hope you guys are short the DOW or at least long gold.

Although Gold is not performing as great as I thought it would be, it is still outperforming the DOW and will for the next several years.

[/ QUOTE ]

I hope everyone is long bananas, and I think that everyone should dive into zero-coupon bonds also. We are afterall in a recession.

Where is FDR when you need him?

AvivaSimplex · #6 03-13-2007, 07:50 PM

Gold may be good long-term, but short-term it will get whacked along with other commodities, junk bonds, and everything else that's been pumped full of Japanese liquidity.

dopp16 · #7 03-13-2007, 07:57 PM

[ QUOTE ]
Gold may be good long-term

[/ QUOTE ]

are you sure?

AvivaSimplex · #8 03-13-2007, 08:20 PM

I'm sure that it may be good, yes.

otctrader · #9 03-13-2007, 08:28 PM

[ QUOTE ]
I hope you guys are short the DOW or at least long gold.

[/ QUOTE ]

Recommending the average investor EVER shorts U.S. equities or purchases gold in excess of ~10% of their portfolio is generally a mistake, bordering on lunacy if you're deep into a 5-20% correction.

Responding to your title, the only thing I'm worried about is making sure I put uninvested cash to work as this correction proceeds - I'm long now, will be longer at 10%, and more so at 20% off the highs.

P.S. - If "it's different this time" and the Dow craters to 5000 or whatever, I hope the gold bugs and prescient short sellers have a private army to protect their new found wealth.

Nonononono · #10 03-13-2007, 09:37 PM

[ QUOTE ]
P.S. - If "it's different this time" and the Dow craters to 5000 or whatever, I hope the gold bugs and prescient short sellers have a private army to protect their new found wealth.

[/ QUOTE ]
LDO, unfortunately. I'd like to think folks would be willing to accept responsibility for their own bad decisions, but I know it won't happen.