From the end of 1999 through the end of 2009, all of the popular Wall Street market performance measurement tools were in the red. The average bloodletting level of the DJIA, the S and P 500, and the NASDAQ was a disturbing-to-some minus nineteen percent.
The Media has dubbed it “The Dismal Decade”.
Most of the investment community is either open-mouthed in shock or strident in blame about the somethings or someones who must be responsible for such horrific performance. Never again they swear to their clients—- without ever a hint that they might themselves be the problem.
It won’t be long before the Wizards of Wall Street announce that they have studied the situation, and readied their sales minions to switch the shattered investment public into yet another fail proof (fool-magnet?) portfolio of hedges, gimmicks, signal responders, and panaceas for whatever the new decade brings.
Once again they will attempt to debug the market cycle and create an upward only future for the masses. Try not to be abused again—- the markets aren’t broken, just the market shakers. Your portfolio should be up in market value—- and not by just a little for the “dismal decade”.
These are the same geniuses that created the dotcom bubble by cramming valueless securities and speculative IPOs down your throats. They are the same charlatans who created the derivative markets and fraudulently hid their gaming devices in innocent looking rolls of tissue paper.
If you have not taken profits, one or more of these things is happening:
Steve Selengut
For the complete article: http://kiawahgolfinvestmentseminars.net/Inv/index.cfm/5875
Author of: “The Brainwashing of the American Investor: The Book that Wall Street Does Not Want YOU to Read”, and “A Millionaire’s Secret Investment Strategy”
Posted by Guest: Steve Selengut on 1/22/10
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