Ramblings Post #65
A shrewd investor I read back in the day, when I read investment advice like some men read a sports page, advised that during a calamity, one needs to look for bargains. And if the current state of Wall Street isn't a calamity, I'm not sure what would qualify. The problem I have now is that my tools are so rusty, I can't accurately tell what's a deal and what isn't. Now I at one time had the skills....think about what the Moguls are up against.
"So I made $3,000 like a month ago. But then this month I've lost $4,0000. And I spent $2,000 getting my car fixed. But if this other stock ...."
And the moguls continue.
It still amazing to me that Naive Mogul still has a belief that he can beat the market. Listening to him and Daddy Mogul talk - and it's not like I'm trying to listen, he talks loud - the concept that maybe just maybe they can't win just has not occurred to him. At any point. Not in all the months he's been trying. Naive Mogul is afraid that at the end of the year he'll have to cut his losses and see if he can get some more money - cry to his father - so he can invest again. Actually, I believe the word he used was play.
Even in the worst of times, those privileged live in a fantasy world.
He hasn't realized that like in Vegas, the only way to win is if you own the casino.
Chatty Mogul has rejoined the general work group, and by his own estimation the days seem to go a lot faster as of late. Well, since he's working as opposed to sitting about and talking about his 1) house, 2) dog, 3) diet, 4) inventions, 5) his grand ideas for the future, or whatever other crazy thought strikes him.
Side note: Two weeks ago Chatty was considering law school. I advised him to get a study guide and maybe take a prep course before taking the LSAT, but he figured he would just go take it cold to see what it was all about, then if he felt he could do it, he would study and take it again. When advised against doing that, and why that was a horrendously bad idea (they would average the scores, not take the highest) he quickly lost interest.
After Naive and Daddy discussed their losses for at least 20 minutes - this stock won't move, this other stock took a dive, etc and so on, they started on Daddy Mogul's new health plan. Which is infinitely more interesting, as the man is actually losing weight. The point where their "boss" walked by and asked what they were doing. When the boss (and my boss too), who is only in the office maybe twice a week, and in our area away from her multiple meetings, for maybe and hour or so a day, can spot you're not really working, what's really going on.
I mean really.
Am I wrong for hoping Naive gets wiped out? And actually has to maybe, do his job to live? Then I guess I'll just have to be wrong.