Monday, February 23, 2009

The Death of the Expert

If you are still looking to the "experts" for "solutions" to the Great Collapse, I would like to throw a little reminder out to you. On 31 July 2008, we here at FutureJacked posted a link to a "call" by Cramer, who wants to "keep you in the game" entitled Cramer Calls a Bottom. The YouTube video linked as a response to his "call" still stands.

I will provide the money quote from his giddy rant here:

“The banks are leading us back up,” [Jim Cramer] said. “New leadership and I'm liking it. That's what causes a bottom."

What’s Cramer mean by bottom? The Dow will not test the lows it saw on July 15, which his when it dropped below 11,000 for the first time since July 21, 2006.

That was it,” he said.

The DJIA is at around 7,225 as I post this.

Mr. Cramer's degradation of the discipline and effort necessary to protect your nest egg, the time and self-education you must put in to learning how to best allocate what extra money you might make each month to a mere "game" is appalling. Remember, the finance playerz and elites have turned the markets from an engine that drives entrepreneurship and economic growth into a rigged casino. It is a game to them - and they want to keep you in that game because, as anyone whose ever gambled before knows, in the long run, the casino ALWAYS wins.

No investment advice is given or implied. I do suggest you put in the long hours of reading the history of the markets, of learning and applying a method of market analysis (I prefer Elliott Wave Anlaysis - but there are plenty of other disciplines to choose from, such as Graham and Dodd's works) and, even if you choose to continue working with an investment professional (good ones ARE out there and they are worth their weight in gold), demand that he or she be just as informed as you are and demand honest answers to tough questions.

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