I have also seen absurdity in his posts and being that this is a LINN stock board I will place him on ignore soon since I only welcome LINN related posts both technically based and longer term prospects dealing with stochastics. His religious posts can be shoved up hi whazoo for all I care. What Norris doesn't understand is that the "fiscal cliff" is only temporary and any stock market fall is my buying opportunity. I am a Republican and do not agree with Odummy's ideas but I need to continue to invest in order to make money. The equity markets are the only place to be at the moment (try buying bonds or CD's and see what interest rates you get). LINN is a solid company with quality cash flow and its distributions will continue to reward investors. Think about even if the fiscal cliff hits us eventually a "deal" will be made whether its Jan 1st or Jan 31st and the market will anticipate this way before it happens. Any further drop in LINN is a Christmas gift for me as I will continue to add to my stock/calls as it rises ultimately into its ex-div date in 4 weeks !! Even if higher taxes remain I will still continue to wreak an 8%+ distribution which is much safer and higher than any other equities, therefore the "ask" prices will eventually start to rise again as people realize that the cliff is only temporary and ask/bids will start to rise again this week. So I have to pay higher taxes...oh well...at least I am getting 8% and not 2-3% !!
Not surprised Opinions would gather with another member of the lunatic fringe who believes massive tax increases with a sudden reduction in spending would not cause a recession. That due to Obama policies our Fed and nearly all other economists have reduced America's long term economic growth forecast by 50%.
So we have here is more magical investment theory that stocks are not pieces of business but random numbers in a casino.
It is interesting it is the Professing Christian who reads the *science* of investments and economics.
While my self appointed hostile and angry opponents do not. As demonstrated by this completely insane rambling and complete refusal to address accumulated learning as fancy stuff.
Well I wish the investment and economic moon-calves a Happy New Years and best of luck you will most certainty need.
It is fascinating. Here on an investment board all OLB members reject the fullness scientific based investment theory as 'fancy stuff'. In the place of modern portfolio theory, efficient market theory or even behavior investment theory we have the musings of self declared intellectual primitive demanding to be respected based on nothing except all opinions; even from those who will not respect themselves, are equal. They will not read what is so easily available in the Age of the internet library.
There are three realities to our markets. First they are generally and usually so efficient that even fully educated and experienced experts with vast resources cannot beat the market returns. The very few who can do so by such a small margin that they take the 1% or 2% back in fees. This is why we all know Buffett and Munger.
Second is no man knows the future with certainty let alone precision. Even the Buffett/Munger team has had long period of under performance. Yet the collectivist on this board demand the worth of their opinion be based on laughably absurd claims of 'trading' magical power trade by trade.
Third individuals who have the arrogance to assume the market is not generally and usually very efficient are the natural prey items of the market sharks. Those that manipulate share prices and use their media contacts to pump. Exactly like OLB members do chasing 'yield' while claiming results far in excess of Buffett/Munger not in total but the ultimate absurdity of any moment in time.
I am afraid the general body of economists lowering America's long term growth rate to half of what it has been in our modern history are in all likelihood accurate. Rather than our traditional 3% to 4% annual long term growth we will have 1.5% to 2% best case. If Obama drags us into policies like Europe then a rational person understands this experiment has already been run.
This means while the PE on the SP500 is a little lower than average it should decline to reflect the more than 50% reduction in our economic growth rate due to Progressive 'policy'. Further the excessive borrowing and printing is not building our economic security but weakening it.
Most Americans do not know Obama is starving human beings for corn ethanol corruption. That he is systematically devastating working class living standards to where for the first time in modern history they cannot afford to eat protein.
But the OLB troop does and does not care. So they really believe any informed rational investor would take the recommendation or information from such a defective character?
Nope but that is why they band together in a monkey troop collective.