jse17

Stiglitz Weighs in on the PPIP (And It's Not Pretty)

Alas as employees of well endowed universities, neither Joe nor Paul has ever missed a meal! In fact, their salary checks are directly deposited faithfully bi-weekly, their health care is fully paid, they are provided a nicely funded defined pension benefit plan, and their progeny receive gratis educational benefits.

Paraphrasing, they exist in a risk free atmosphere with tenure and write about economic hazards that we mortals engage in daily. Perhaps their analysis is correct but if so, the foundation will be anything other than personal, down and dirty EXPERIENCE. Moreover, an old adage states that if one cannot do “it,” do not become dismayed, just write about or speak out on the issue that both do in abundance!

Last Thursday Was the Bottom - It's Time to Get Back in

As previously expressed, Julius Westheimer, a bright (Phi Beta Kappa at Dartmouth) and kindly gentleman when asked by Louis Rukeyser when is the best time to buy stocks responded, “Buy when you have the money Lou!” Taking this tenet to the next level, buy when you have the money and believe a stock or index has a greater likelihood of doubling vs. the probability of sustaining a 50% loss.

Obviously the involved analysis is ultimately subjective without any sustainable, accurate guiding principles e.g., those that actual work over time. Lazlo Birini recently wrote an excellent Forbes piece on this very topic. Additionally, one is not required to be anything other than reasonably close in bottom fishing to create extreme envy at his or her club within e.g., one year!

My opinion as well as every poster’s thoughts in this thread mean little to nothing in confirming or rejecting the author’s bottom statement. To each his own but never forget that Columbus took a chance! Best of luck to all!