I am sick and tired of the financial press, both printed and via the numerous financial channels we now have access to that portray markets and the economy in its current state.
I will through my access to markets and information provide all those willing to listen with an unbiased view of the day to day and longer term ramifications of the current mess both banks and governments have contributed to.
I will contribute daily and look forward to hearing from those who feel the same about misinformation of the dire situation we are currently in.
My first thought for the blog.
Do not enter this share market until it has shown signs of a bottom. Heard it before?? Well please dont. Just because Warren Buffett is buying does not mean he is right. He has time and cash on his side to wear a potential further 10-15% drop in the stockmarkts.
Warren did not tell shareholders when to sell at or near the top. Nobody knows when these markets top or bottom. Let the market find that bottom first. We have all heard dont catch a falling knife; well buying this market is like trying to catch a falling chainsaw.
One thing I am sure of is the volatility that is present will continue into Xmas period. Now that our deposits have been guaranteed may as well leave the money in the bank??? Funny how we are now guaranteeing those institutions that have been making billions and billions of dollars over the years. By the way if they fail, we the taxpayer (Government guarantee) are guaranteeing our own deposits. Ummmmmmmm good deal for someone (the banks) not us.
Please do not enter the market at this point. Let the damage and repair happen without your hard earned.
A little later today my thoughts on Gold.
Please note this is not investment advice. It is the truth as I see it.
I wish you all a great day.
GSM
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