Richard Crenian Blogs
March 3, 2009
“To Market, to Market to Buy ……..!”
Mutual Funds, the fat pig, the one that everyone say to buy. Your friends, neighbors, financial advisors and even your spouse said buy, buy, buy.
Your banker told you to buy. Why, even transfer your retirement funds so you can “get ahead of the curve” and buy anti inflationary mutual funds. “Why,” he would say, it’s the thing to do and everyone is doing it!”
The Pressure was too much and you succumbed, and today you realize that there is no such free ride, and that the markets belong to the gamblers and the con men that have zero conscience.
When you go back to your banker and asks how your statement sits he says, “Are you sure you want to know?” What kinds of losers say that? If you live in the States, your banker may not even be there any longer. Golly, if you can’t even trust your banker whom can you trust?
The good news: BMO (Bank of Montreal) and Scotiabank-other Canadian banks made money. Again no Obama bailouts, no Canadian bailouts, good conservative Canadian banks. What does that say about government bailouts? Do they work?
I am not a huge fan of listening to Rush Limbaugh nor do I enjoy the sound of his voice but when you read his transcripts, it makes sense, of what is happening today.
Howard? I like him. He’s been my mentor and partner for over 30 years……., he’s in Tucson enjoying the weather although he told me that the heat is getting to him. (Of course he would say that, it’s March the 2nd and the windchill feels like minus 30 here!!!)
Howard, bring that warm weather home. We need you to tell your story of how you have invested in cash flow deals even when it wasn’t cool, and that conservative investments were the way to go. PS Keep Cool!! You can reach Howard at 4036304544.