Would you trust scary advise?
My friend of mine who is a VP of Bank of America who's also takes part in the economy and financial advisor told me to get out. I asked him what he was talking about. He started telling me how the recovery is weak and even a load of crap. He continued saying that any bear market or steep decline would basically crash the market. Which, he says, a crash could happen by September of 2015. Now, its a huge claim but he's given me info that constantly came true. He said banks are lending and spending worse than 2008. He told me that this also is the reason why there have been so many suicides by banking executives, CEOs and others. One of his good friends actually was on of these victims. He basically packed up and is ready to move to South America. What do you guys think?
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I would listen to scary advice and see why the person is afraid.
As best as I can tell, there's a number that shows that stocks are overvalued. . . but where does that number come from? How is it derived? Article |
I would be precede with caution. I am very cautious with my investments. & more invested in tangible investments (like real estate). But I also believe too many people overreact. If he shows me some indicators, than id be more likely to believe him.
Also banks are not lending like they use to. I'm in capital services for CRE. Banks are not lending the way they use to. The underwriting is much more difficult now than in 08. |
I've always thought about asking something like this, but not sure if the question would come across correctly. I'll try and see where it goes:
Do you think we deal too much with the 'numbers of now'? for example: At 10 AM on day X, the jobs report comes out for December It says XXX,000 jobs created. Market reacts... In February, the day X report is amended, its now YYY,000 jobs in that month TWO months ago (or 3 or 4 - irrelevant to the point). Market reacts. Bob said this - market reacts. Bob retracted - market reacts. Is there too much reaction to things that are just really noise to the situation? disclaimer: I have some investments in the market - not much. I do have my 401K. I just see an America where many people worry about the 1 day gain, and that the market has to be up day after day after day, and not the long term goal. |
Originally Posted by Heyitsgary
(Post 23444374)
I've always thought about asking something like this, but not sure if the question would come across correctly. I'll try and see where it goes:
Do you think we deal too much with the 'numbers of now'? for example: At 10 AM on day X, the jobs report comes out for December It says XXX,000 jobs created. Market reacts... In February, the day X report is amended, its now YYY,000 jobs in that month TWO months ago (or 3 or 4 - irrelevant to the point). Market reacts. Bob said this - market reacts. Bob retracted - market reacts. Is there too much reaction to things that are just really noise to the situation? disclaimer: I have some investments in the market - not much. I do have my 401K. I just see an America where many people worry about the 1 day gain, and that the market has to be up day after day after day, and not the long term goal. |
Timing is everything in the maret. Ideas change as the facts change so you have to be flexible with your own thinking.
Bears are always na saying and they are eventually right, then wrong, then right..its an up and down thing, the market. There are many vp's at BofA, wonder what the others are thinking? The market has been and will continue to be a great place to put your money, make money, and there is always some stock that does better than another, sector, etc... I would listen to myself, or try listening to Jim Kramer? |
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