(01-06-2022, 10:17 PM)fenders53 Wrote: She just got hit with a ton of liquidations again this week. They will be forced to dump more shares at very low prices again. She can talk long-term but the customers will make that hard. The funds will be much smaller in a year. That was the only thing I saw coming with certainty. They close large funds for a reason.
We are all at a wonderful ball where the champagne sparkles in every glass and soft laughter falls upon the summer air.
We know, by the rules, that at some moment the Black Horsemen will come shattering through the great terrace doors,
wreaking vengeance and scattering the survivors.
Those who leave early are saved, but the ball is so splendid no one wants to leave while there is still time,
so that everyone keeps asking “What time is it? What time is it?” but none of the clocks have any hands....
The Black Horsemen did come, of course, and most of the guests were still at the ball. - SuperMoney (1972)
Lessons Cathie never learned.
I certainly feel bad for the retail investors who bought into her thesis.. But then again they are all big boys and girls.
- Scoot
"Risk is the forgotten man of this bull market". - John Bogle (Just days before the dot.com bubble burst)
“It’s different this time.” Lenders and investors invariably depart from time-honored disciplines when cycles move to extremes,
out of a belief that current conditions are different from those that prevailed in the past, when those disciplines were appropriate.
And just as invariably, they’re shown that cycles repeat and nothing really changes.- Howard Marks