DWStein's  Instablog

In a recent Real Clear Markets article (see here), the author trashes Ben Bernanke.  The article is supposedly about how Bernanke’s term should not be renewed because he employs a hybrid approach (Philips Curve & Monetarist).  Why he Bernanke should be doctrinaire about any given theory, I’ll never know.  He also says Bernanke doesn’t understand how the markets actually work.  It all ends up being a bunch of nonsense to justify a return to the gold standard.

There is not a magic set of policies that will prevent financial bubbles and thier aftermath.  Systemic risk is here to stay regardless of our collective actions and/or policies.

www.smartmoney.com/investing/stocks/nothing-always-works-but-here-are-three-market-truths/

I don't really have an issue with any particular point made in the referenced article.   The three 'truths' articulated are pretty helpful:  short term timing is very difficult, ride your winners, and sell you losers.  If you are a professional trader, I'm sure you'll find these bits of advice helpful.

The problem I have with articles like these is the overall notion that people at home can somehow hope to beat the market.  Yes, you may know someone who bought Citi (C) in 1990, and sold in 2006.  And, maybe you know someone who got short Toll Brothers (TOL) in 2005.  These are the exceptions and are not examples you can reasonably expect to follow.  It's like buying a lotery ticket becuase your nextdoor neighbor bought a winning ticket the day before.  The fact is, the odds are stacked against you.

seekingalpha.com/article/146545-is-infla...

http://www.washingtonpost.com/wp-dyn/content/article/2009/06/28/AR2009062802955_pf.html