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Unread 25 May 2008, 11:05   #47
Zar
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Re: Child poverty in the UK

Quote:
Originally Posted by Ultimate Newbie
Yeah, it was so evident that the stockmarket was so over-extended that everyone kept playing the game from greed. Had they known anything about common sense and/or some economic history (Kondratiev, Jugler waves, Minsky distant memory hypothesis and other things) all pointed to it ending soon. Greed kept them in 'the game', so they got burnt. I didnt. I call that a win, even if i hadnt maximised my profits (which is really only possible given hindsight). Sure, i sold out early and i was more cautious. I dont care.

What? Why do you feel there is a need to dump a few names and consider that this creates an ability to predict anything. Traders and analysts are schooled in the belief that past performance is no guarantee of future performance. Regardless of any cycles, the downturn in july-ish 2007 was caused by various factor's, no less the fact that there was less demand for cdo's, abs, morgage bonds anything highly leveraged and basically anything that was seen to be related to the housing market. On top of this due to the climate of uncertainty the institutional investors were advised to sell equities and buy commodities and quite a few smarter hedge funds were engaged in shorting of equities. Greed didn't keep them in the game. Speculation did. You do realise that there is a whole world out there other than the purchase and sale of equities? As you're an individual investor, I would suggest you take a more pragmatic approach. Stop worrying yourself with cycles and worry about the fundamentals. Look at simple things like p/e ratios, dividend, economic performance, labour figures and company reports.

Quote:
If you dont want to believe me, that's ok. Like i said already, there are ways of accumulating wealth, most of which revolve around plenty of hard work and finding good information. I would encourage you to do both, but clearly you're not interested in making money for yourself or acquiring some modicum of financial freedom, believing in some lofty notion that the State actually cares about you and will freely pay your pension well into retirement, even though there is no possible way that they can afford to do that.

Its your loss. Why dont you go back to reading the Daily Tele and gossip about Paris Hilton's latest expoits?? It might help you stop thinking about these hard things.
You say you hold 3 jobs. You say you're 22. Any career that provides you with the ability to afford a mortgage and the downpayment and interest/capital repayments at that age should in reality only allow you the time to have 1 job. Yet you have 3! Why can't you see how ridiculous this sounds to me?

That being said i have no idea how much a house costs in perth. You might be telling the truth assuming prices are a fraction of what they cost in London. I can't be bothered to check/
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