XBoxBoy: Well put. As Keynes said: “The market can stay irrational longer than you can stay solvent”.
A lot of what you see here in terms of posting is simply parroting what the reader saw on another blog, such as Calculated Risk or Mr. Mortgage. While those blogs contain useful information, much of what they also contain is simple speculation. Whenever anyone quotes Jim Cramer, I want to remind them that Cramer is a trader, not an investor, and he’s there simply to garner ratings for the network that employs him. If you’re trying to divine the market using Cramer’s prognostications, you might also want to buy some juju beads and a couple of live chickens to sacrifice later.
We are in uncharted waters here and as much as anyone wants to lambast Paulson or Bernanke for their actions, I’d challenge them to come up with something better, especially given the constraints they’re facing at present.
