Anxvariety – good point about cashing out. I took a well into seven figure profit, and just payed the cap gains tax to avoid just upping the ante. I can tell you from my business of advising folks how to invest their money, that all you can do is give the best advice available. It is ultimately up to the individuals to make the decisions.
My best friend from college is a General Manager of an NBA team, who has repeatedly been burned by “money managers.” One lame penny stock recommendation after another. I warned him of an upcoming stock selloff a couple of months ago. He asked that I just tell him when I sold out, and he would also do so.
I called him in early May and told him I had exited, and that he should do the same. I gave him the reasons why. I sent him a copy of my newsletter that fully explained the reasons why, and showed them graphically.
Well, he has not sold any of his stocks yet, and now is wondering what to do. I have another friend who owns a general contracting firm, that I had the exact same conversation with. He is now calling me asking what to do next? He also wants to invest a bunch of money in Real Estate because it is a can’t lose situation. I have really been diligent in trying to talk him out of that. All you can do is give the proper advice, you cannot make people follow it.
Good call on the RE sale Desmond. I think it is clear at this point that the drop has begun. How far it goes is anyone’s guess.
If anyone knows of a way to collectively monitor developers collective buying and selling of land in a numeric fashion, please let me know. I would love to be able to construct a index that dispays this for research purposes. They do so many private deals, that this seems to be hard to track. Bugs, maybe you have an idea of how to do this?
