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Yesterday, Tyler Durden offered a post from Jim Quinn of The
Burning Platform Blog (h/t Maggie’s Farm):
The gist: it’s a bad idea to buy stocks on margin when
everyone loves stocks, and when you think you can't lose.
Quinn’s post was entitled: Buying Stocks on Margin at the Top: They Never Learn.
He wrote:
It’s
like the movie Groundhog Day. Greed
and hubris are the downfall of the mighty. Believing it is different
this time is the mistake of the feeble minded. Watching the ensuing
carnage will be a laugh riot. Seeing the blubbering of the bubble headed
bimbos, pinhead pundits and Wall Street shysters when the inevitable collapse
occurs will be worth the price of admission. If you think we're wrong, pony up
to the trough, borrow some money and buy Twitter on IPO day. You can’t lose.
Of course, the market could definitively go higher from
here. The market top that Quinn envisions could be months in the making.
Yet, if you believe in contrarian investing you will be
thinking right now that everyone loves the stock market and that everyone hates
the precious metals, especially the mining stocks.
Just a thought.
1 comment:
There's a great saying, buy---or sell---to your sleeping point. This market is way too frothy for me and my good-nights-sleep.
Also, making money on paper in any market is one thing, but then keeping it and holding on to it is quite another.
Thanks for another good, ecletic post....frankly I was getting a little weary of reading much more of those cringe-worthy feminist terrorists!
BTW, think there may be a decent buying opportunity for gold if it can make it back to $1,375....just my thinking...
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