I remember seeing TR’s “inspirational books” in bookstores in the 90’s but have never seen him on video. I watched the whole thing and will have to say that this young man is very charismatic.
He’s not the first one that’s said recently that most stocks will tank before the end of 2011. I’ve been told this by my tax person and also by a relative (statistics major in college) who is a semi-retired “day-trader,” a multi-millionaire who “shorts” the market at least a couple of times a week. He claims he typically makes about $8,500 in a day and loses about $2,500 some days doing this and doesn’t hold anything long-term. (I’ve seen some of his recent e-trade statements). His recent quote to me, with a smile:
“When everybody’s buying, I’m selling and when everybody’s selling, I’m buying – either way, I do just fine.” (unquote)
I’m going to figure out how to “reposition” a couple of my retirement accounts in the coming days.
