How's Jesse Livermore Doin'...

[4everwarriors]

after today's market bent over and blew everyone a kiss, hey?

[MU82]

Well, if you predict a correction every day, eventually you're going to be right.

If we all had listened to Smuggles, we'd have sold every stock we owned and shorted everything about 3 years ago.

[Coleman]

Time to buy

[Tugg Speedman]

Well, if you predict a correction every day, eventually you're going to be right.

If we all had listened to Smuggles, we'd have sold every stock we owned and shorted everything about 3 years ago.

One of my better days this year.  Still an average year however.

And you should have sold every stock because most everything else did better.

Too early to buy.  These things are never one day.

82 - check the other post.  You started calling me smuggles in early July, right at the high.  So congrats the moment you started making fun of my bearish calls the market has done nothing but go down.

[GooooMarquette]

Time to buy

Yep.

[MU82]

One of my better days this year.  Still an average year however.

And you should have sold every stock because most everything else did better.

Too early to buy.  These things are never one day.

82 - check the other post.  You started calling me smuggles in early July, right at the high.  So congrats the moment you started making fun of my bearish calls the market has done nothing but go down.

Whatever you say, Smuggles.

[GooooMarquette]

Livermore did great - absolutely incredible - for many years.  Made money when the market went down, and did it time and time again.  Until he didn't and shot himself.

Seems like there might be a lesson there....

[Coleman]

Too early to buy.  These things are never one day.

Then I'll just buy more.

The bigger the discount, the more I'll buy.

[Tugg Speedman]

Livermore did great - absolutely incredible - for many years.  Made money when the market went down, and did it time and time again.  Until he didn't and shot himself.

Seems like there might be a lesson there....

He shot himself because he went bankrupt for the fourth time and felt he was too old to start over.

[Dr. Blackheart]

Bump...hope some of you cats took profit a few weeks back.

http://www.muscoop.com/index.php?topic=52231.msg856411#msg856411

[Golden Avalanche]

He shot himself because he went bankrupt for the fourth time and felt he was too old to start over.

Quitter.

[Tugg Speedman]

Friday Was Just The Start: Here Are Goldman's 5 Reasons Why The Selling Will Continue

http://www.zerohedge.com/news/2016-09-10/friday-was-just-start-here-are-goldmans-5-reasons-why-selling-will-continue

[GooooMarquette]

He shot himself because he went bankrupt for the fourth time and felt he was too old to start over.

Like I said, a lesson....

[Juan Anderson's Mixtape]

Well, I have 28 years for the market to work itself out.  Stay the course.  By not selling I have realized 0 losses anyway.

Individuals in or near retirement on the other hand...

[Coleman]

Well, I have 28 years for the market to work itself out.  Stay the course.  By not selling I have realized 0 losses anyway.

Individuals in or near retirement on the other hand...

This. Not selling under any circumstances. Just a matter of how big of discounts I can buy at

[brandx]

Friday Was Just The Start: Here Are Goldman's 5 Reasons Why The Selling Will Continue

http://www.zerohedge.com/news/2016-09-10/friday-was-just-start-here-are-goldmans-5-reasons-why-selling-will-continue

As I have said before, if I had a dollar for every time some rightwing rag preaches the stock market's demise over the last 7 1/2 years, I would have lots and lots of dollars.

[mu-rara]

As I have said before, if I had a dollar for every time some rightwing rag preaches the stock market's demise over the last 7 1/2 years, I would have lots and lots of dollars.

Hey Rocky?  Is this what meant by no politics in your post of only about 10 days ago?

[GooooMarquette]

Too early to buy.  These things are never one day.

Solid call.

[brandx]

Hey Rocky?  Is this what meant by no politics in your post of only about 10 days ago?

I did not make a political statement in any way. I called out someone else for presenting a strictly political argument.

[MU82]

Peter Lynch 1:

"Far more money has been lost by investors preparing for corrections, or trying to anticipate corrections, than has been lost in corrections themselves."

Peter Lynch 2:

"I can't recall ever once having seen the name of a market timer on Forbes' annual list of the richest people in the world. If it were truly possible to predict corrections, you'd think somebody would have made billions by doing it."

Of course, that moron doesn't know anywhere near as much about investing as Smuggles does!

BTW, today's rally erased about 80% of the "losses" (all were paper losses) I sustained in Friday's rout.

Crazy how the market goes both up AND down. I mean, who'da thunk that?

[Tugg Speedman]

Peter Lynch 1:

"Far more money has been lost by investors preparing for corrections, or trying to anticipate corrections, than has been lost in corrections themselves."

Peter Lynch 2:

"I can't recall ever once having seen the name of a market timer on Forbes' annual list of the richest people in the world. If it were truly possible to predict corrections, you'd think somebody would have made billions by doing it."

Of course, that moron doesn't know anywhere near as much about investing as Smuggles does!

BTW, today's rally erased about 80% of the "losses" (all were paper losses) I sustained in Friday's rout.

Crazy how the market goes both up AND down. I mean, who'da thunk that?

"I can't recall ever once having seen the name of a market timer on Forbes' annual list of the richest people in the world. If it were truly possible to predict corrections, you'd think somebody would have made billions by doing it."

Try

Carl Ichan $20.5 billion
Ray Dalio $15.3 billion
Steve Cohen $12 billion
David Tepper $11.6 billion
John Paulson $11.4 billion
Andrew Beal $8.9 billion
Ken Griffin, $7 billion
Daniel Ziff $5 billion
Dirk Ziff $5 billion
Isreal Englander $4.8 billion
Paul Tudor Jones $3.7 billion
Stan Drunkenmiller $4.4 billion
Julian Robertson $3.7 billion
Leon Cooperman $3.4 billion
David Siegel $2.8 billion
Peter Thiel $2.8 billion
Dan Loeb $2.7 billion
James Dinan $2.4 billion
John Henry $2.2 billion
Paul Singer $2.1 billion
Bill Gross $2 billion
Davis Einhorn $1.8 billion

[Coleman]

Solid call.

lol

[MU82]

"I can't recall ever once having seen the name of a market timer on Forbes' annual list of the richest people in the world. If it were truly possible to predict corrections, you'd think somebody would have made billions by doing it."

Try

Carl Ichan $20.5 billion
Ray Dalio $15.3 billion
Steve Cohen $12 billion
David Tepper $11.6 billion
John Paulson $11.4 billion
Andrew Beal $8.9 billion
Ken Griffin, $7 billion
Daniel Ziff $5 billion
Dirk Ziff $5 billion
Isreal Englander $4.8 billion
Paul Tudor Jones $3.7 billion
Stan Drunkenmiller $4.4 billion
Julian Robertson $3.7 billion
Leon Cooperman $3.4 billion
David Siegel $2.8 billion
Peter Thiel $2.8 billion
Dan Loeb $2.7 billion
James Dinan $2.4 billion
John Henry $2.2 billion
Paul Singer $2.1 billion
Bill Gross $2 billion
Davis Einhorn $1.8 billion

Assuming that you are right about every single one of those men getting rich thanks totally to their market-timing ability, then apparently that statement by Lynch was wrong. (Of course, over the years you have stretched the truth many times to "prove" your points, so maybe we shouldn't assume.)

I think even you'd agree that the men you listed are the exception to the rule and that the vast majority of individual investors could not possibly replicate their success. That statement plays quite nicely into the first Lynch quote, the one you haven't tried to refute.

But that's OK, Smuggles, we all know you are the smartest, richest, most incredible, most handsome and best-dressed man in the room.

Still, I do wonder why ...

1. A man of your investing acumen is not on that list of billionaires; AND

2. A guy with $999,999,999 (because I just assume you're CLOSE to being a billionaire) bothers hanging out with the peons here in Scoopland.

[Coleman]

No need to make this political. It is not a right-wing, left-wing issue.

It is impossible to time the market. It is more effective to just dollar cost average and continue buying over the long haul. I never understood why people would try to shuffle around their 401ks into cash and bonds to time the market. It never worked. I always did better by just continuing to buy, and buy even more when the market went down.

"Be greedy when others are fearful and fearful when others are greedy" - Warren Buffett

[GooooMarquette]

It is impossible to time the market. It is more effective to just dollar cost average and continue buying over the long haul. I never understood why people would try to shuffle around their 401ks into cash and bonds to time the market. It never worked. I always did better by just continuing to buy, and buy even more when the market went down.

"Be greedy when others are fearful and fearful when others are greedy" - Warren Buffett

Spot on.  I've only made adjustments by asset class in the past couple of years, and only because I'm not many years from retirement.

Loved the list of a dozen or so guys who became billionaires timing the market.  Wonder how long the list would be if we asked to see the people who ended up far worse off the they would have been if they had just dollar cost averaged into low cost index funds from day 1.  Not sure the Scoop server could handle it.