Camden

Financials To Resume Meltdown Momentarily

Jason, I enjoy reading your commentary, but wonder about this comment: "J.P. Morgan issued a statement saying that trading conditions have substantially deteriorated since June. This will effect those financial leaders who have yet to be clobbered, like Goldman Sachs (GS). Ken Heebner, an investor who reportedly trades similarly to Goldman, suffered his worst month managing the CGM Focus Fund in July as he, and probably Goldman as well, expected oil to continue up to $200 a barrel" I

I've heard Hebner speak many times over the past year and never heard him say anything that would suggest he is or was a making any bets on the short term price of oil. He DOES believe oil will continue to dominate the world's list of needed energy resources and has made a big bet that Petrobras will be a big winner LONG TERM. That position in addition to one in Mosaic are what caused the major hit to his portfolio. From everything I've heard, Goldman's portfolio is MUCH, MUCH more balanced in terms of asset allocation and is not subject to the whims of the stock market. If anything, I'd guess Goldman's commodity trading is likely to be one of the reasons Hebner had a miserable month. I'd say they may well have been inversely correlated recently. Using Hebner's performance as a proxy for Goldman's is nuts in my opinion.

Six Stocks to Buy, Five Stocks to Short

InestLikeaPro
Congrats on your trading record! Fifteen straight years over 9% is amazing. I'd say that puts you in the top one-half of one percent of all investors. I can claim a very good 15 year record but had a loss in 2002.

1. I wasn't preaching, I was giving honest opinion based on 33 years on investment experience.
2. I happen to be a rather aggressive investor/trader. I rarely have less than 15 positions active and I'm currently up 42% YTD. Yes, the markets recent volatility hit my portfolio as well – I was up 50% a week ago.
3. I reiterate that someone that loses 22% of their portfolio on a day in which the indexes are down less than 4% IS gambling (or one of the world's worst traders).

Now I'll preach. Hate is a very destructive emotion. You'll likely live a better life if you can reduce it. Lighten up and learn to take others constructive criticism as a gift. There is often much to be learned from points of view that differ from your own.

Six Stocks to Buy, Five Stocks to Short

I appreciate your honesty in saying "The stock market has become too volatile to handle for many people, including me." I hope you will take the following as well-intended constructive criticism:

Anyone that loses over 20% of their portfolio's value in one day (especially a day with the indexes down less than 4%) should NOT be giving anyone financial advice. Heavy selling in two stocks gives you a 22% portfolio loss??? You shouldn't have a 22% loss even if Apple goes to zero. Clearly you are gambling, not investing properly.

Secondly, if you dread turning on CNBC because there is likely to be more bad news, you shouldn't be giving investment advice. It shows you are too emotionally immature to handle something as important as investment advice.
I hope you go on to get your finance degree and that it leads to a successful career. However at this time I sincerely suggest you do yourself and Seeking Alpha readers a favor by ceasing to write these "advice" articles. You are likely to make a make a fool of yourself and cost many impressionable young investors a great deal of money. All the best.

Six Stocks to Buy, Five Stocks to Short

I appreciate your honesty in saying "The stock market has become too volatile to handle for many people, including me." I hope you will take the following as well-intended constructive criticism:

Anyone that loses over 20% of their portfolio's value in one day (especially a day with the indexes down less than 4%) should NOT be giving anyone financial advice. Heavy selling in two stocks gives you a 22% portfolio loss??? You shouldn't have a 22% loss even if Apple goes to zero. Clearly you are gambling, not investing properly.

Secondly, if you dread turning on CNBC because there is likely to be more bad news, you shouldn't be giving investment advice. It shows you are too emotionally immature to handle something as important as investment advice.
I hope you go on to get your finance degree and that it leads to a successful career. However at this time I sincerely suggest you do yourself and Seeking Alpha readers a favor by ceasing to write these "advice" articles. You are likely to make a make a fool of yourself and cost many impressionable young investors a great deal of money. All the best.