P A T I E N C E
Jim Cramer on CNBC: I will take this call from a viewer in Cleveland, “BOOYAH!”
Caller from Cleveland: Big BOOYAH to you, Jim. Jim I just bought SalesForce (CRM) and I am worried that the stock market could have a correction.
Cramer: “Don’t be foolish, Uncle Ben (Bernanke) wouldn’t let that happen. BOOYAH, BOOYAH! Next caller.
Markel:Annual Report_2012 and http://brooklyninvestor.blogspot.com/2013/03/markel-2012-annual-report.html
Understand Schiller’s P/E and Cyclically Adjusted Earnings
More on Irrational Exuberance: http://etfdailynews.com/2013/04/03/david-stockman-welcome-to-irrational-exuberance-2-0/
More on Bitcoin, Gold in Backwardation and money:Bitcoin and Acting MAn This is an important read to understand if you want to improve your understanding of money.
A farce: Shut Up Savers Surowiecki
P.S. as of 11 AM I bought in equal measure (adding) AUQ, AUNFF, YNGFF, AUY, NGD, GQMNF, RBY, RTRAF, FNV, RGLD, SLW, AG, PHYS. Whoops….and EGO, GORO.
then I threw up all over my keyboard.
A reader asks, Why did you buy gold?” Well, besides massively negative interest rates, global central bank mania/panic and this report: http://www.businessinsider.com/socgen-the-end-of-the-gold-era-2013-4
One argument is that managed money is bearish on gold. Whoa! So they were bullish in 2011 when gold hit $1,900 and now, after seventeen months, they are bearish? The chart below sure doesn’t support the sagaciousness of the “managed” money.