{"id":188942,"date":"2010-07-06T17:46:00","date_gmt":"2010-07-06T22:46:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2010\/07\/06\/normally-i-do-not-give-investing-advice\/"},"modified":"2010-07-06T17:46:00","modified_gmt":"2010-07-06T22:46:00","slug":"normally-i-do-not-give-investing-advice","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2010\/07\/06\/normally-i-do-not-give-investing-advice\/","title":{"rendered":"Normally, I Do Not Give Investing Advice\u2026"},"content":{"rendered":"<div style=\"border: 1px solid black; margin: 0px 10px; padding: 5px; width: 360px; float: right; text-align: center;\"><embed style=\"display: block;\" src=\"http:\/\/media.mtvnservices.com\/mgid:cms:item:comedycentral.com:309127\" type=\"application\/x-shockwave-flash\" wmode=\"window\" allowfullscreen=\"true\" flashvars=\"autoPlay=false\" allowscriptaccess=\"always\" allownetworking=\"all\" bgcolor=\"#000000\" width=\"360\" height=\"301\"><\/embed><br \/><span style=\"font-style: italic;\">&#8220;I&#8217;m beginning to think these are regular storms,&#8221; he added, &#8220;and we have a sh%$#y boat.&#8221;<\/span><\/div>\n<p>But this <a href=\"http:\/\/www.ft.com\/cms\/s\/3\/d5976b8e-883e-11df-a4e7-00144feabdc0.html\">proposed strategy actually sounds good<\/a>:<\/p>\n<blockquote style=\"color: rgb(0, 0, 153);\"><p>It has been a profitable first half for Contrarian Partners. Our core investment strategy remains unchanged: to mine the research produced by investment banks every six months to establish consensus trading strategies. Then trade against them.<\/p>\n<p>\u2026\u2026\u2026\u2026<\/p>\n<p>In general, though, the advice was reassuringly poor. The markets continue to reward us for listening to the experts \u2013 then doing the opposite. <\/p><\/blockquote>\n<p>Needless to say, the proposal is tongue in cheek, but the the truth is in there.<\/p>\n<p>The degree to which the &#8220;Masters of the Universe&#8221; have missed every warning out there, largely because their excessive salaries and bonuses depend on missing warnings, is stunning.<\/p>\n<p>If we were to take the top 100,000 bankers in the world, and send them to North Korean reeducation camps, and pay the DPRK a million dollars to house each one, both the DPRK and the rest of the world would be far better off.<\/p>\n<p>H\/t <a href=\"http:\/\/www.ritholtz.com\/blog\/2010\/07\/contrarian-investing\/\">Barry Ritholtz<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;I&#8217;m beginning to think these are regular storms,&#8221; he added, &#8220;and we have a sh%$#y boat.&#8221; But this proposed strategy actually sounds good: It has been a profitable first half for Contrarian Partners. Our core investment strategy remains unchanged: to mine the research produced by investment banks every six months to establish consensus trading strategies. &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1004,1100,1050,1027],"tags":[],"class_list":["post-188942","post","type-post","status-publish","format-standard","hentry","category-finance","category-funny","category-snark","category-video"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/188942"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=188942"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/188942\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=188942"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=188942"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=188942"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}