One of the few "advisers" that I read daily is Thomas Kee. He has various strategies, that just shooting from the hip, have annual returns of say 25% to 75% in up or down markets. That is not "swinging for the fences" yet if you have a significant nest egg built up, the build up of wealth over time could be great in that range. If you have a $25,000 trading account that you want to turn into $1M in 2 years....well, you are more likely to just "blow up" than achieve your goal. You could buy all Dec 2010 puts in your account, and that might just turn into $1M, or you might find Obama implementing QE 2.
"This weekend_s Newsletter is best served in the form of a message. I am going to start with a frank, and somewhat interfering statement that might offend some people, and then follow it with an action plan.
If you have not already taken steps to protect your wealth you are a fool.
I do not say that lightly. In fact, I know many people who would think that I am a fool for being so blatant with my audience, but I am not in this to make friends. Even though I have been able to find very good people thanks to my efforts, this is a business."
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Thanks for continuing to speak frankly….those who aren’t ready for it….well they will get what’s coming. Many are deluded by CNBC, which is really all ex Goldman employees. Lots of “innocent” people will go down. But there is no entitlement that is entitled, there is no guarantee of fairness as our human right. Those who only react when their back is against the wall will not have optimal results.
On that note---I have to get ready for Superbowl....always distractions :-)
But first I will check the futures and Asia open...wondering if the G-Team (Goldman and Gov) will be enjoying the Superbowl, or maybe they let a few junior traders still ramp the futures markets while the whole world is entranced with the record setting (62 each) 30 second commercials costing $2.7M each.
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Insightful and Useful Comment!