April 03, 2006
Another reason I like trend following
Of course, it is not all bad, but the bad stuff leaves such a stench. Airline restructurings (America West-US AIR), Telecom restructurings (MCI) etc... This is not just a Wall Street phenomenon. The little guy, the employee, the loyal shareholder who buys and holds, whose broker urges to buy the dips just gets screwed. Too often!
I have the dual pleasure of having a business in Toronto as well as Phoenix and being from Toronto, follow the Canadian markets. It's pretty much the same thing. The Stelco crime against old shareholders is very well documented on Bill Cara's site. It should be a book when he gets the time to organize and write an ending. It's IPO today puts the story about 3/4's done. The "coup de grace" came with the new Stelco IPO today - not a month after the bankruptcy precedings wiped the slate clean of old shareholders. If you believe Bill and his writings, an epic ripoff has just occured. EPIC!
I am an avid reader of Bill Cara. I have met him and the reason I love his blog, is his passion. He has a passion for the stock market that you can't help but appreciate. I read his blog daily. Lot's is repetitive - it has to be. He is an army of one - like most of us bloggers. He likes gold - not much has changed the last 3 years. He dislikes the US dollar. He has been correct. He likes commodities, has for a long while. He has introduced me to authors and I have tried to do the same for him.
I like the jockeys over the horses in my decisions. So does he I think.
I don't know why I am so upset over what gets him upset - but it must be his passion.
That is what I look for in a blog. He is my favorite on the markets. Amazing that one guy can create that and inspiring.