Global Market Watch Nov 29th
The Global Market Watch has been posted for the close of November 29, 2013.
The Share Market
QUESTION: Mr. Armstrong; First let me begin by thanking you for your dedication to try to help society. The vast majority are only out to hurt people and see everything as what is in it for them. You take so much abuse for actually trying to help people it is a wonder why you do not hide on some island. I was at your conference in Princeton the weekend of the 1987 Crash. You said there the S&P 500 would fall 10,000 basis points within two days. I was truly amazed when that happened. So when you said buy stocks and sell gold in 2011, I did. I may be the only person for nobody but you got that one right. From where I sit, everyone on the retail side of the market does not seem to be invested in the stock market. Is this why it will explode to the upside?
ANSWER: Thank you very much. Perhaps with age you look at what you can leave behind. You cannot take money with you when it is time to leave. I have personally advised some of the richest people in the world. Let me say this. Money does not make you happy. As long as you can do what you want when you want, that is the definition of being “rich”. Go beyond that, you will quickly discover that you become the salve of money and the target for everyone to attack. I am always astonished by people who cannot see that and live to hurt others and grab as much as they can for themselves. This leaves such people nasty, vindictive, hateful, and hollow inside for they lack character. They know nothing of the feeling of accomplishment because they lack the ability to accomplish anything but cheat people for pleasure.
You are absolutely correct. The majority of individual investors are not in the market. Others are still clinging to gold waiting for it to be a hedge against something other than making money. The retail crowd listens to the gurus on TV. I spent Thanksgiving with family and friends. One is a stock broker retiring by year-end. He said also the retail clients are not in. But he also said, he just wanted out because He cannot go through another crash. He wants to just invest for himself without all the compliance nonsense for this bull market.
The bulk of the retail trade will get involved only when they become convinced by price movement. Consequently, they will buy the last 12 months and then the crash will come as always. There is just a fresh crop of people who enter the investment Labyrinth and must learn through experience. This is why the answer to the most common question I get – what would happen if everyone followed your model? The answer is simple, That will never happen,
Global Market Watch Nov 28
US Markets Were Closed
The Global Market Watch has been posted for the close of November 28, 2013.