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At last an article for us all to agree on. Nobody knows.

Really2
Really2 Posts: 12,397
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edited 26 June 2009 at 1:25PM in Debate House Prices & the Economy
Nobody knows. Some good points.

http://www.fool.co.uk/news/investing/investing-strategy/2009/06/25/nobody-knows-anything.aspx

Nobody knows. Jim Rogers doesn't know. In January, he panicked everybody by claiming the UK was finished, and investors should sell sterling. The pound has since risen 20%.
Warren Buffett doesn't know. He lost $25 billion last year. Fool UK co-founder and writer Bruce Jackson doesn't know (oops, this could be my last commission). He has lost money in the crunch, like the rest of us.
And please don't ask me, because I don't know. If I did, I wouldn't have taken out a pension with Equitable Life in 1999, invested in Aberdeen European Technology in February 2000, or tried to call the bottom of the commercial property market last spring (they're still looking for it).
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Comments

  • inspector_monkfish
    inspector_monkfish Posts: 9,276 Forumite
    Really2 wrote: »
    He has lost money in the crunch, like the rest of us.


    I haven't lost any money.... yet :confused:


    I haven't made any either though, to be fair :D
    Please take the time to have a look around my Daughter's website www.daisypalmertrust.co.uk
    (MSE Andrea says ok!)
  • Really2
    Really2 Posts: 12,397
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    edited 26 June 2009 at 1:04PM
    I have had the odd lucky guess. (one as help me pay my mortgage quicker)
    I suppose anyone with a house, savings, or pension has actual lost money whether it be interest, or generally asset prices crashing.
    But any losses will mainly be paper unless they have to become realized now.
  • Jonbvn
    Jonbvn Posts: 5,562
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    edited 26 June 2009 at 1:13PM
    About sums up my understanding. Nobody knows!

    I used to think that all the really smart people went into the City and earnt megabucks for figuring this sh*t out. Clearly, they are as clueless as the rest of us!
    In case you hadn't already worked it out - the entire global financial system is predicated on the assumption that you're an idiot:cool:
  • Really2
    Really2 Posts: 12,397
    10,000 Posts Combo Breaker
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    Jonbvn wrote: »
    I used to think that all the really smart people went into the City and earnt megabucks for figuring this sh*t out.

    No they go there to cause it :)
  • cootambear
    cootambear Posts: 1,474
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    Lots of good stuff there.

    I would add - In a boom we give more weight to postive data, in a slump we give more weight to negative.
    Freedom is the freedom to say that 2+2 = 4 (George Orwell, 1984).

    (I desire) ‘a great production that will supply all, and more than all the people can consume’,

    (Sylvia Pankhurst).
  • inspector_monkfish
    inspector_monkfish Posts: 9,276 Forumite
    Jonbvn wrote: »
    About sums up my understanding. Nobody knows!

    I used to think that all the really smart people went into the City and earnt megabucks for figuring this sh*t out. Clearly, they are as clueless as the rest of us!

    i can't argue with that.... ;)
    Please take the time to have a look around my Daughter's website www.daisypalmertrust.co.uk
    (MSE Andrea says ok!)
  • inspector_monkfish
    inspector_monkfish Posts: 9,276 Forumite
    Really2 wrote: »
    No they go there to cause it :)

    haha... i can't argue with that either ....;)
    Please take the time to have a look around my Daughter's website www.daisypalmertrust.co.uk
    (MSE Andrea says ok!)
  • Thrugelmir
    Thrugelmir Posts: 89,546
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
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    Really2 wrote: »
    Nobody knows. Jim Rogers doesn't know. In January, he panicked everybody by claiming the UK was finished,

    Death by a thousand cuts.......... only time will tell.
  • Generali
    Generali Posts: 36,411
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    inspector_monkfish wrote: »
    I haven't lost any money.... yet :confused:


    I haven't made any either though, to be fair :D

    I cost me my job and about US$10,000,000.

    :-(
  • michaels
    michaels Posts: 29,753
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    10 mil...would have thought that would have been lost in the rounding error on the Generali family accounts!
    Generali wrote: »
    I cost me my job and about US$10,000,000.

    :-(
    I think....
This discussion has been closed.
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