hctv presents seconds from disaster monda, page-76

pisces

"on the contrary there were plenty of people who didn't want any part of the market from mid 2007 based on the precipitous nature of the US property situation and the overheated markets worldwide...."

The literature coming out of the Agora publications (founded by Bill Bonner) was full of warnings from around late 2005 about an impending financial crisis, as was the now former Chief Economist at Merrill Lynch (David Rosenberg)

http://www.agora-inc.com/

Unfortunately those who simply followed the conventional advice of their brokers got taken to the cleaners. Investors needed to read the alternative economic/financial literature out there in the blogosphere and try to wade through all the contradictory views. Or perhaps they should have taken notice of all those depositors lined up outside the offices of Northern Rock in the UK, and ask Why is this so?

Some good alternative websites are

http://globaleconomicanalysis.blogspot.com.au/

http://www.acting-man.com/

Nadeem Walayat provides an interesting perspective and his blog has many other contributors (it is bit of a minefield with so many different views)

http://www.marketoracle.co.uk/

http://www.financialsense.com/

http://prudentbear.com/

Jeremy Grantham is always a good read for the big picture

http://www.gmo.com/America/

John Hussman is a funds manager who has been waiting a long time for the big market drop because his "scientific" analysis suggests the market is very over-valued

http://www.hussmanfunds.com/weeklyMarketComment.html

There are plenty of others. I have stopped reading most of them and just look at the headlines and the direction of the market. I ask myself is it Risk On or is it Risk Off?

Knowing that the market was close to cactus did not stop me from losing in 2008, but I took protection by putting my superannuation funds into cash in September 2007. My greed and stupidity were too powerful for me, possibly because I knew I had set aside enough funds to recover my loses in the fullness of time. Actually, I would have recovered my loses in April 2009 if I had not sold out my best plays in December 2008.

loki