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Pimco's Bill Gross: Jim Cramer Is 'Courageous' and 'Entertaining'

Let's face it, nobody knows what the market will do in the next 10 minutes, much less the next 10 days. Did anyone predict the dramatic downturn in equities for Thursday & Friday of this week?

I like the experts who predict that things will change "in the next quarter", "by the end of the year", or "sometime next year". I have never found them to be wrong. Sure enough, things did change.

Anyway, it's a fun game and I enjoy it since I am fortunate enough to be retired since 1994, have a company pension, receive my Social Security check each month, was lucky enough to have bought rental properties in Las Vegas, Cape Cod, and Albuquerque in the early 2000's when prices and interest rates were low, and got out of the market at the end of 1999 after a very profitable 6 year span when all boats enjoyed a rising tide. A maximum investment in Gov't I Bonds in 2000 & 2001 was another lucky move.

Notice my use of the words "fortunate" and "lucky" when referring to investments; the same words that contribute to one's wealth when in Las Vegas or Macau. No one knows the future track of their investments; least of all, the lamenting majority of 401(k) contributors who watch their shrinking monthly or quarterly statements and have about as much investment savvy as the deer in your headlights.