Wednesday, October 6, 2010

Parrots and Monkeys

This is reprinted from a post of mine on Yahoo Finance, made tuesday morning before the market opened ... by the end of the day, the DOW was up 200 pts, with gold, silver and oil all hitting new yearly highs

From time to time my "plebian" friends ask me about
getting in to the market.
If they are really interested, I start them out
by explaining that there is just tons and tons of material to read,
that they need to read read read all the time.
But I explain further that there are basically two types of authors,
parrots, and monkeys.

The parrots are just repeating stuff they have heard somewhere else, some other time.
They have no idea of the sense of what they are talking about, they just like to make noise.

However, interspersed among them are a handful of monkeys,
who know very well what they are saying,
and who are determined to makes fools out of you and me.

If you can identify who the monkeys are,
and bet the other way from the way they try to lead you,
you can't go wrong ...

Goldman Sachs has again revised downward
their estimates for the quarterly GDP.
Its looking pretty ugly.

CNBC is saying that we could be having a little dip here.

I'm putting the accelerator to the floor ....

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