Comments on Fund My Mutual Fund: We're Stuck! S&P 500 Range Bound to the Extreme

Once I become wealthy, I plan to be out of touch t...

2008-04-25T15:11:00.000-04:00

Once I become wealthy, I plan to be out of touch too and simply write about these "poor" people I have to deal with as my butler goes grocery shopping... people we used to call "middle class" ;)

Well, what's funny is that while talking to a friend a couple of years ago right before the housing bubble burst I asked him what he thought we (the US) should do prevent a serious recession/depression when the bubble finally came to an end. He, always the cynic, answered, "I don't know what the US is going to do, but I'm going to bust my ass to make sure I remain in the top 5%." lol

Michael, great questions. I don't know but I have...

2008-04-25T15:02:00.000-04:00

Michael, great questions. I don't know but I have a few theories

#1 they talk their book. They want to acquire more assets for themselves or firm to manage because your assets = more fees. So why ever say negative things? That might cause people to not send them money

#2 they truly are out of touch. Just like the guys in DC. When your health care is gold plated, when you make 6 figures (in DC) or 7-10 figures (in NYC) you don't live in the same world. Do you think $4 gas matters? These are guys deciding if its going to be Porsche, BMW, or Mercedes next year and I'm not talking the low end stuff. Or if its going to be Hamptons or Italian condo next on the purchase list. Or both. Wealth is at its most concentrated since 1929. The top 0.1%, 0.5%, and 1% are at highest levels ever as % of total wealth in country. $5 milk is not really something to worry about.

#3 they are all secretly part owners in corporate farms and making millions off the farm subsidies? Best times ever?

You just need to walk in their shoes. I like McCain as a human but until 2-3 months ago he was clueless on the economy. Huckabee had a clue but he was not the right guy. McCain was sending Carli Fironi (however you spell it) at townhall meetings to speak whenever an economic question came up. Thats out of touch. Now he has his talking points provided by the Republican machine so he sounds halfway knowledgable but he was busy talking about Iraq while this was all falling down. On the other side of the ledger we have 2 people who will promise everything to Americans but simply create a massive legacy of more debt in their wake. Notice, no one talks about how they are going to pay for anything. So its just a big group who are out of touch.

Once I become wealthy, I plan to be out of touch too and simply write about these "poor" people I have to deal with as my butler goes grocery shopping... people we used to call "middle class" ;)

I just don't get it. How can so many seemingly sm...

2008-04-25T14:13:00.000-04:00

I just don't get it. How can so many seemingly smart people be so dense sometimes? I was watching Kudlow last night and the only person on there who made any logical sense was the contrarian guy. Everyone else was beating on him by saying 'corp profits are great, there isn't a recession'. How can anyone with a straight face say that with energy and food prices soaring that the consumer isn't going to get pinched? I'm really at a loss here...