Quote of the Day

| September 10, 2018
Share |

When asked about all of the reports recollecting what happened in the MIDDLE of the Global Financial Crisis, Keith McCullough of Hedgeye Risk Management has this to say:

“I think it’s a great time in Macro to be a young person who is just starting. Because you don’t have to deal with having all that baggage that people have screwed up in Macro for the last two stock market crashes — of which they’re all backslapping themselves on it for solving ten years ago today. It’s a complete joke.

They didn’t warn you of any of it.

If anything, Warren Buffett in October of 2008 with CNBC backslapping the crap out of him saying “Hey this is the spot! This is the spot! This is the big bazooka spot, this is where you got to buy ’em. Buy ’em with both hands. If you bought them with both hands in October of 2008, you lost all your fingers.

Why did Keith say this?

Because from September 15th, 2008 to March 9, 2009, the S&P 500 lost 46% of its value!

I know but if you held on you made it all back. Yes this is true, but what I continue to harp on is human beings are emotional creatures and we are not wired like Warren Buffett so a majority of people sold out of stocks or significantly modified their “risk tolerane” at the wrong time.

Have a process, test it and stick to it!

 

Stay Tuned, Disciplined & Patient! {TJM}

The Investor & Character Equation (ICE) | S + R = O

 

IMPORTANT DISCLOSURE INFORMATION
Please remember that past performance may not be indicative of future results. Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product (including the investments and/or investment strategies recommended or undertaken by Meyer Capital Group-“Meyer”), or any non-investment related content, made reference to directly or indirectly in this blog will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful. Due to various factors, including changing market conditions and/or applicable laws, the content may no longer be reflective of current opinions or positions. Moreover, you should not assume that any discussion or information contained in this blog serves as the receipt of, or as a substitute for, personalized investment advice from Meyer. Please remember that if you are a Meyer client, it remains your responsibility to advise Meyer, in writing, if there are any changes in your personal/financial situation or investment objectives for the purpose of reviewing/evaluating/revising our previous recommendations and/or services, or if you would like to impose, add, or to modify any reasonable restrictions to our investment advisory services. To the extent that a reader has any questions regarding the applicability of any specific issue discussed above to his/her individual situation, he/she is encouraged to consult with the professional advisor of his/her choosing. Meyer is neither a law firm nor a certified public accounting firm and no portion of the blog content should be construed as legal or accounting advice. A copy of the Meyer’s current written disclosure Brochure discussing our advisory services and fees is available for review upon request or at www.meyercg.com. Please Note: Meyer does not make any representations or warranties as to the accuracy, timeliness, suitability, completeness, or relevance of any information prepared by any unaffiliated third party, whether linked to Meyer’s web site or blog or incorporated herein, and takes no responsibility for any such content. All such information is provided solely for convenience purposes only and all users thereof should be guided accordingly.

Share |