Monday, April 13, 2009

Couldn't get in today

The market didn't go down 2% as I had anticipated. My SSO limit order was unfilled! We will see tomorrow. What a joke Goldman Sacks was today: we (i.e. tax payers) gave GS $10B through AIG (THE REAL ROBBERY OF THE AMERICAN PEOPLE - scare them so that they don't stop their government from stealing their money on behalf of GS and others of their ilk) and they show a profit of $5B. Now try figuring that out as some kind of profit. Plus why is Goldman selling its own shares if the shares are cheap or undervalued? Clearly they know some suckers out there will pay them top dollars (i.e. current price) for them. It is hilarious how "savvy money managers" are just as gullible as everyone else - the main reason for money mangers to buy this crap from GS is that its not their money they are using to buy GS. No one should be allowed to be money manager unless they have 100% of their assets in the fund. Same goes for people managing retirement funds. Basically, when people manage these funds, they have gambling addictions, except there are absolutely no consequences for them. Great job for gamblers. They ought to be required to be members of Gambling Addict Anonymous. When you have bullish sentiment everything looks rosy and great. The actual economy is stuck because people are just too scared to let go of money on frivolous stuff the don't need.

1 comment:

  1. Good comment. I think that mutual funds are sort of outdated and it maybe better to invest in ETFs. Mutual funds charges way too much fees and most of them underperform index funds. I completely agree with u that there should be a rule requiring money manager putting at least a significant amount of money into their funds.

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