Friday, March 8, 2013

The wealthy got weathier.

After watching the stock market rise of the last two months, all  I can think of is that some of the rich people in the country have just gotten much richer in a short time.

So can we expect a little trickle down?   Huh?  Can we?

Not holding my breath.

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Bank of the Cascades is out from under?  Nice that everyone exhibited such kindness and patience with them, and were willing to extend a helping hand.

You know, just like the banks did for all their debtors....

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Met my first writer's block in a while last week.  Hit a chapter I just couldn't get past.

I set it aside to work on this week, so today is a bit of test.

If nothing else, I'll apply the 5 minute rule and see what happens.   (Do a task for 5 minutes and more often than not, you'll just keep going.)

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I keep wondering -- of course -- whether anyone actually likes DEATH OF AN IMMORTAL.

But, well, I thought it was pretty good.  Really.  I can't answer to how other people react.

I have to trust my own instincts, because there really isn't anything else I can do.




6 comments:

mugmkr said...

Hey Duncan you might consider taking Jesse Felder's class at COCC. Bulls, Bears, something something. (sorry, I'm on no sleep with a huge deadline looming.) Anyhow he will teach you how to do your own investing. I'm no billionaire but I have benefitted from the uptick in the market thanks to following his plan. I did not understand a thing about the market and have been thrilled to get to the point of being in charge of my retirement, and keeping the surcharge the "financial advisors" take. Cheers, Owen

Duncan McGeary said...

I'm sort of in the "if it ain't broke, don't fix it" mode.

I've had a very legit adviser since the beginning, the same people who my Dad used.

So far, they've done a good job.

This increase is just stupid. I'm figuring about 8% in two months and that would translate into 40% for the year and I don't buy it.

Not going to happen.

It's all bullshit until I retire.

But the market has increased so much that even a full correction would only put us back to pretty close where we started the year.

mugmkr said...

So are you saying that you did not get a bump in your investments over the past couple of months? Or are you saying you did? I only mentioned Jesse's class because it sounded like you were not getting what the market is giving. And yes, I agree, it (the market) seems to be astonishingly high and I just don't understand what the basis for the surge is. Hey by the time I retire the close to two decades I had in pers will be totally gone to pay for any teachers that still might be in the system. Gotta love the guv, no taxes for corporate nike but okay to stiff state employees.

Duncan McGeary said...

No, it's been astonishing, though I never match the percentage overall, because I'm diversified.

It's astonishing to realize that there is a Mason-Dixon line about 90% of the way up the population curve.

Everyone below that line is paying compound interest rates on debt.

Everyone above that line is accruing those interest rates in compound interest.

Duncan McGeary said...

What I mean to say is, yes, I've seen the benefits of the latest runup.

I also don't believe it. I suspect we'll be giving it all back soon.

Anonymous said...

This rally will last a little longer but I'd be taking profits soon and standing on the sidelines after that. Other than FED POMO, there is nothing that justifies this rally and it will not end well. I have no crystal ball but I'm thinking come September, everyone will have wished they dumped their holdings in May. If you factor in real inflation, money made in the markets is not creating wealth as the dollar buys much less than it did 12 years ago. It's pretty much smoke and mirrors, the wealth effect. Don't wait too long and ride this to the bottom. Take profits, sideline it one the way down and buy it cheap once it's stabilized. All time highs are not a good thing...