Tuesday, July 10, 2007
Hence, it is fair to say, at least 2/3rds of you have no idea, whatsoever, what you are doing, sort of like witch Doctor's in New Zealand.
All day long, I made a shit load of shitty buys, which I now regret. I knew the market was going down triple digits, but I bought anyway.
I have that bullet proof feeling going on. Never a good thing.
The only silver lining about today is rates got poleaxed.
Long story short, "The Fly" is unafraid of such weak dips, knowing how weak, old and stupid the short sellers are.
My plan is to remain caffeinated, ignoring the negative health affects. And, to nibble at my favorite stocks, whenever I feel like it.
Finally, it's worth noting, CNBC is making this "sub prime mortage double wammy" into Hiroshima, part II. Fuck them and their fear mongering. Naturally, investors should be cognizant of systemic risks. However, until proven wrong, I believe this sub prime influenced dip, is a buying opportunity, particularly for tech.
I can just see "The Fly" being quoted 20 years from now. Ok, let me have it.
E.g., from S&P repot:
"Of the U.S. cash flow and hybrid CDO of ABS transactions currently outstanding, 218 (approximately 13.5%) have exposure to one or more of the subprime RMBS tranches on CreditWatch …" and that's after barely starting the RMBS downgrades.
I think we've solved our excess liquidity problem... ;) But, hey, BIDU will keep going up forever, no sweat...
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