by Travis Johnson, Stock Gumshoe | September 16, 2008 9:51 am
This is premium content. To view this article (and to have full access to the rest of our articles), sign up. Already a member? Log in.
Source URL: https://www.stockgumshoe.com/2008/09/seadrill-sinking-again-what-to-do/
Copyright ©2024 Stock Gumshoe unless otherwise noted.
Since I look on investing as buying into businesses I wish I could own outright,
I look on the “up’s and down’s”, as part of business and life in the real world.
I bought one ultra-short ETF. Even when it’s going up, I wonder what possessed me
to buy it. I’m down in this market just as is everyone else….With the exception of being
pretty well diversified (As I’ve kept my clients and Friends, over the years). The upshot is , even
with stocks down…We can retire tomorrow, and still have the income we intended…And, because of the investments we’re in…Eventually recover….
I cheated a bit…I stopped trusting in everything an analyst said years ago…And, in fact, I am still so paranoid, that in some holdings, I dread an analyst will “discover” them – The for-sure kiss, of death.
(Just because you’re paranoid…’Doesn’t mean someone isn’t following you). I don’t much listen to economists, either….A lot of them make “Soothsayers” look good.
And , having taught investments at University level, at about the time CMO’s became the darling
of the Wall Street “goobers”; I saw, and wrote a paper about the dangers, of them, and vowed never to let a client, friend or enemy anywhere near them…So help me, Davy Crockett. The more stupid things have gotten (Sub-primes; 98 cents on the dollar home equity loans; A volcanic ash cloud of CDO’s now circling
the planet), the farther a way I’ve moved investments….Not perfect…But better than a sharp stick in the eye.
Seadrill will do fine…Frontline will too, and pay handsomely…Stuff that’s just not going to work…I sell, and add to what is working….I don’t have the time to micromanage every daily moment with exotic techniques.
I wouldn’t be good at it anyway….You’ve got to be right twice in a row….No one is ever right twice in a row…
Except in Blackjack…Maybe.
Are we seeing a wash-out? I don’t know….I’ve held pretty steady in here, the last few days. We’ve even been buying a few things…Especially adding to my favorite mining company with an income dividend I won’t
burden you with,lest you throw-up, cry or both. I see credit card debt…CDO’s….And the blessed collapse
of more of those unprincipaled pirating hedge-funds, on the horizon.
Every one of importance, has been insisting, long-term investing is history…It’s a “Traders” market….
I’ve thought it over……No it isn’t.
Hello Gumshoe this is the first report that i have read just new to your news letter, its very interesting I like the way you discribed some of the teaser letters, thats what got my attention, good work, I am still looking for that nugget in the sky, ha ha