[quote=temeculaguy]Avoid actually taking stock advice from this crowd, this is a one trick pony, too many canned food and ammo types. I speak from experience, back when the Dow hit the 6000 range I proposed a similar thread and listed six specific stocks that I was contemplating. The advice was very negative and like an idiot I chose to follow it. I could have make 10x my money within a year, and not quite doubled it in gold, which is all anyone talked about. Be rational, piggington was on the cutting edge 5 years ago with regards to the real estate bubble, but it’s never been a stock picker.
One example was when Ford hit $1 and gold was about $1,000 almost every poster said gold was the smart play and ford was a reckless play (I listened, shame on me). Today, in this mess, ford is over $10, hasn’t gone below $9 all year, and it’s high was almost $19. To give you some perspective, gold would have had to peak and $19,000 to beat it and would need to be at $10,000 today to come close.[/quote]
I totally agree you have to be careful about taking stock and investing advice from online anonymous forums. Heck, even the pros are making some serious blunders.
The market is EXTREMELY volatile and even the pros and hedge funds are taking a beating in many funds. Also, the point is also very valid that some “experts” that excelled in one field like real estate are getting killed in other fields. Take guys like John Paulson for example. He made a fortune shorting the real estate sector and financials but he has some funds now that are down 35% in the past year.
