Dec

5

Buying the S&P, from Ken Drees

December 5, 2009 |

Buying the S&P today [2009/12/04] after the run up since March, throwing in the towel because this employment news means the economy is turning around, is akin to buying that stout, fat blood bay gelding team hitched to the most beautiful painted wagon ever seen. Arsenic fortified fiends, a la Ben Green. As soon as you buy them, they start losing weight, losing pep, losing beauty, losing power — powder on a knife, turn your back and walk away.

Kim Zussman questions:

How would you participate as a market Asperger if the market:

  1. Became a vehicle of change for the powers of evil
  2. Cheers only the flaws and mistakes of capitalism and human nature
  3. Makes you money only when your bets are cynical, or in the opposite direction of your beliefs
  4. Moves are 100% random, with an occasional bone thrown to keep you paying vig and (especially now) taxes

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