That couldn't be truer today and I think will persist a bit longer. News-wise I can't imagine we have heard the last of this. The fundamental importance and magnitude can be debated but there will be more news and it is bound to scare the market again as it did the other day. Brace yourself for a few more bumps that will probably be forgotten by labor day.
The PSA is for Directv subscribers who are also baseball fans. Directv is starting a free-view of the Extra Innings package today through next Wednesday
6 comments:
Roger Nusbaum:
"They's a whole lotta euphoriatin' out they-ah!"
No big bets experience. A great port performer just went south...EGO...gold mining stock. I was up circa 17% until today went down circa 27%. Going into today, 2.3% of port but still did damage to today's return: 27% of 2.3 is .062% loss off entire port.
Doesn't sound like much but it is. For example in a 100k port if the general mkt had a stunning 2% day I'd be sacrificing 621 dollars from a potential 2k day. I can only imagine damage from a bigger bet.
too bad you have a lag but great you don't have a disaster.
this is a perfect anecdote for every time I have ever written about 2-3% in one stock.
thanks roger...from reading your blog is why I chose the 2% figure,particularly for a single stock.
ps..EGO could be a great buy yet, eh, eh,eh...no I did not average down.
Roger.
This may be a subject that strikes close to home for you. Hillary Kramer was on the Nightly Business Report last night and was recommending a couple of stocks that hold water rights out West, they are PICO and CDZI. (for the transcript:)
http://www.pbs.org/nbr/site/onair/transcripts/070711c/
What is your take on this play?
re the water, I have never heard of PICO and for some reason CDZI rings a bell but I don't know anything about these two.
That said, I think San Bernardino is pretty dry and I know Nevada is very dry. My hunch is that water rights in dry places is a relatively aggressive way to capture the sector.
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