The markets tanked again yesterday as much uncertainty about the proposed government bailout package prevented traders from chanting that happy days are here again. The bears ruled, and I expect this volatility to continue for quite some time.
With the unique events of the past few weeks, I have attempted to write about as well as reference articles of interest describing the once-in-a-lifetime Wall Street meltdown and bailouts in a realistic way without sugar coating.
I have had an email exchange with reader Doug, who had this to say:
Please don’t take this wrong, but many people (myself included) heed your words closely. Your negative comments regarding the “bailout” could be damaging to their morale.
I’m having enough trouble stomaching this bailout, but keep on reminding myself of the consequences of our leaders’ doing nothing in this financial crisis.
I try to realistic and brutally honest in my assessment and references. I don’t intentionally dwell on negatives although it seems that some readers have problems with my realistic viewpoint.
The financial markets are facing a situation unlike anything ever seen before, so there are no historical precedents, and the only way for me to deal with it is calling it the way I see it. If that offends some, tough!
This blog is not about political correctness, sugar coating events or worrying about somebody’s morale; it’s about assessing where we are and finding the best way for our portfolios to survive so that we are in a position to take advantage of opportunities down the road.
Comments 6
I appreciate your candidness! I look forward to reading your blog every day. And, of course, I really appreciate your weekly No Load Fund/ETF Tracker updates. Keep up the excellent work.
Ernest
Hi Ulli:
In your latest blog entry you state:
I try to realistic and brutally honest in my assessment and references. I don’t intentionally dwell on negatives although it seems that some readers have problems with my realistic viewpoint.
Please note that some of your readers, myself included, appreciate your viewpoint enormously. By posting references to things you find interesting and informative, and by adding your own observations and viewpoints without pretending to have all the answers you are a unique resource. There is never a shortage of self-appointed pundits but it’s rare to find somebody who is knowledgeable, frequently puzzled by events and constantly trying to make rational plans to handle the situation.
(Of course you’ll never make it as a politician!)
Cheers
Iain J…
Sugar coating and political correctness, as well as a blind following of “Authoritarianism” has led us into this dire situation. I prefer my eyes to be open when my neck is placed on the chopping block, versus buried in the sand, as the axe descends…:)
Keep calling ’em like you see ’em.
Great comments and replies by readers. Being candid is for us non politicians who care about what is happening.
Great info resource at this site. Keep up the great work.
I’ve been following your newsletters since 2003 when I found them on internet while doing various searches on financial investing and self education.
Keep up the great work. Like all the new tools you’ve put in place.
-“Localsurf”
I agree that you’ll never make it as a politician. Thank heavens for that. We need honesty, not spin.
Your insights are extremely helpful. Your charts and comments at the beginning of the year influenced my decision to put all my IRA into treasuries, so thank you, Ulli. Fantastic work.