Pain
I was on two TV programs talking about Goldman today. That’s actually a first. Of course it’s always nice to asked to speak about finance away from Credit Writedowns and I will provide you with the videos and some commentary later tonight or tomorrow.
But, I was thinking as I walked away from the studio: you know they aren’t asking me to get on their show because I’m all happy and going to spin a tale of endless joy and hope for everyone. I mean, I try to look at things objectively and talk about the upside when I see some upside. But, come on, I know and you know that Credit Writedowns is not where you want to go if you’re looking for the Bubblevision story of V-shaped recoveries and endless economic boom.
So, the more you see me on TV, the more worried you should be about where we are headed.
Here’s a video that gives you the gist.
Thanks, Ed. Big fan. Honestly, you have a 401k, what do you think is the best option amongst the following, for the on-coming downturn :
– 70% stocks 30% bonds (PIMCO & VANGUARD)
– 70% bonds (PIMCO & VANGUARD) & 30% stocks
– 100% short term notes (closest to cash)
– cash out taking the tax hit and buy gold (at places like goldmoney.com)
“So, the more you see me on TV, the more worried you should be about where we are headed.”
Ed – worried? I’d get happier and happier – not only to know you’re becoming deservedly popular of course, but also because you’d be the perfect contrary indicator. The more often you appear, the more bullish we’d all have to become!