Dow Crash Coming To Your 401K (2007 to 2022)

[Soul Crusher]

The only thing you trade is tricks for cash in the mens room at truck stops.

[Soul Crusher]

Ha ha ha. 

[Benny B]

Yeah, I traded a 5 dollar bill for a hummer from your motha.

Wow Ziggy, that was priceless.  You feeling particularly depressed tonight, sweety? 

[Benny B]

Do much "trading" today Benny?

It'll be okay BD, one day you'll be like me instead of a wannabe! 

[Soul Crusher]

Benny - how is that crash in gold working out? 

[Benny B]

Benny - how is that crash in gold working out?  

What crash was that?

[Soul Crusher]

You and nicky called for a crash in gold remember? 

[Benny B]

You and nicky called for a crash in gold remember? 

Errr...no, honestly I don't. Sorry.

I can tell you that some of my colleagues I've spoken to are planning to short gold, believing that we're going to see a big sell off on the commodity down to as low as $800/ounce. I'm not too sure about that, but I was on a conference call with Barclays Wealth Wednesday and their VP strategist is making that recommendation. Just a little inside baseball for ya. 

[boonasty]

Errr...no, honestly I don't. Sorry.

I can tell you that some of my colleagues I've spoken to are planning to short gold, believing that we're going to see a big sell off on the commodity down to as low as $800/ounce. I'm not too sure about that, but I was on a conference call with Barclays Wealth Wednesday and their VP strategist is making that recommendation. Just a little inside baseball for ya. 

I'd hang on to gold but hell ithought silver would be much higher by now so who can be sure I still wouldn't sell off gold especially if u r in cheap

[Benny B]

I'd hang on to gold but hell ithought silver would be much higher by now so who can be sure I still wouldn't sell off gold especially if u r in cheap

You guys have to realize (all jokes aside) that I talk to 15-25 different traders, strategists, and analysts per week at a minimum. As a strat guy myself I am reading EVERYTHING. So when a guy like Neuro makes statements that are out in left field and way out there from what the rest of the investment community is saying, I have to call him on it. And he knows I will, which is why he runs away when I get specific in my challenges.

[pedro01]

Errr...no, honestly I don't. Sorry.

I can tell you that some of my colleagues I've spoken to are planning to short gold, believing that we're going to see a big sell off on the commodity down to as low as $800/ounce. I'm not too sure about that, but I was on a conference call with Barclays Wealth Wednesday and their VP strategist is making that recommendation. Just a little inside baseball for ya. 

From this - would I be right in saying you are a financial advisor and make your living off commissions on the funds you sell ?

[Hugo Chavez]

(**Strictly Moderated--SEE FIRST POST**)

fellas, this is the only thread that is strickly moderated.  Keep it a little more civil please.  You have the whole rest of the political board to bitch slap eachother.

[Benny B]

From this - would I be right in saying you are a financial advisor and make your living off commissions on the funds you sell ?

No, I am not an FA. My job is more research oriented.

[pedro01]

No, I am not an FA. My job is more research oriented.

OK - before I go any further, let me state for the record that I am a profitable day trader. As a day trader, I do not, nor do I need to know where the market is going long term.

I do also put on longer term trades and in these trades I do attempt to know where certain sectors of the market are going for the next few months. I never advise anyone on what to do - it's their money, not mine. Note that on this side, I am in cash right now and have been since Goldman/SEC day.

Now Benny - my opinion is that most people that work in the investment industry cannot trade for a living. If they could - they would not have employers. My opinion is also that people that work in the investment industry will point people towards whatever increases their bonus or commissions.

Of course - you can say that this is unfair and I will certainly listen to your arguments against the above.

So, before we listen to any more from you, I think it is fair that we ask for you to give us an idea of what biases you may have.

Can you tell answer the following:

1 - what do you do for a living ? be specific.
2- do you get paid on the basis of investors making more profit or on fund managers giving you a commission ? Or other ?
3 - do you personally invest in the products that you work with ?
4 - what is your annual percentage return over the past 3 years ?

I think these are fair questions considering the seriousness of the domain in which we are holding a discusison.

[Benny B]

OK - before I go any further, let me state for the record that I am a profitable day trader. As a day trader, I do not, nor do I need to know where the market is going long term.

I do also put on longer term trades and in these trades I do attempt to know where certain sectors of the market are going for the next few months. I never advise anyone on what to do - it's their money, not mine. Note that on this side, I am in cash right now and have been since Goldman/SEC day.

Now Benny - my opinion is that most people that work in the investment industry cannot trade for a living. If they could - they would not have employers. My opinion is also that people that work in the investment industry will point people towards whatever increases their bonus or commissions.

Of course - you can say that this is unfair and I will certainly listen to your arguments against the above.

So, before we listen to any more from you, I think it is fair that we ask for you to give us an idea of what biases you may have.

Can you tell answer the following:

1 - what do you do for a living ? be specific.
2- do you get paid on the basis of investors making more profit or on fund managers giving you a commission ? Or other ?
3 - do you personally invest in the products that you work with ?
4 - what is your annual percentage return over the past 3 years ?

I think these are fair questions considering the seriousness of the domain in which we are holding a discusison.

Biases? I don't provide much in the way of investment advice on this board. I've stated that many times. No desire to do so.

I am not going into detail regarding those questions. Sorry, Pedro. I would also state that there is not much in the way of seriousness in this discussion at all. Have you read some of the posts in this thread?

[pedro01]

Benny

Here's the rub - most people that work in the financial industry cannot trade or invest profitably.

This includes 99.9% of financial advisors, 99.9% of analysts and researchers,100% of the financial media and 99.9% of brokers. If you are one of those OR are taking advice from one of those, then you advice is about as much use as tits on a bull.

On the other hand, there are a number of people that can trade - some are in the industry and some just do it to make money for themselves.

My presumptions based on your posts is that you are part of the 99.9% and not one of the people that actually makes money directly from trading yourself.

The financial industry is just one big circle jerk. Anyone with any common sense will understand that trading is a minus-sum game.

Look at the industry - we have TV stations, newspapers, reporters, analysts, brokers, advisors etc. etc. Then we have the general public putting money into this big cash guzzling machine, somehow convinced that ALL of them can at some point take out more money than they put in.

Even if there wasn't a huge industry and huge salary bill to pay, it is impossible that everyone can put money in and take more money out. Profits have to come from somewhere and that is generally other people's losing trades.

The whole industry is basically paid from losing traders losses. That includes pensions, 401ks etc. The fact that people put their pensions into this without considering the fact that it's impossible for all pansion holders to take out more than they put in is a real shame.

Pedro

[Neurotoxin]

You guys have to realize (all jokes aside) that I talk to 15-25 different traders, strategists, and analysts per week at a minimum. As a strat guy myself I am reading EVERYTHING. So when a guy like Neuro makes statements that are out in left field and way out there from what the rest of the investment community is saying, I have to call him on it. And he knows I will, which is why he runs away when I get specific in my challenges.

 
 
 
 
                                                               Market Top
 

bush has systematically destroyed this country financially.
 
our country is heading for a severe recession as a result of his failed policies.
 
in the coming months, the stock market will come crashing down. mark my words.
 

                                                              63% Market Crash  
                                                                      v
                                                                      v
                                                                      v
                                                                      v
 

                                                                Market Bottom
 

with the market extremely oversold, i anticipate a bear market rally in the very near future.
 

[Soul Crusher]

So what do you feel now? 

Benny calls for a crash in gold two months ago completely discredits him on every single level whatsoever. 

[Neurotoxin]

How'd taking Neuro's market crash prediction work out for that portfolio of yours?  

 


                                                        Market Top
 

bush has systematically destroyed this country financially.
 
our country is heading for a severe recession as a result of his failed policies.
 
in the coming months, the stock market will come crashing down. mark my words.
 

                                                     63% Market Crash  
                                                                      v
                                                                      v
                                                                      v
                                                                      v
                                                                      v
                                                        Market Bottom
 

with the market extremely oversold, i anticipate a bear market rally in the very near future.
 

[Bindare_Dundat]

Everyone, other than BitchFury knows Benny is a joke.

[Soul Crusher]

Don't hold your breath waiting Neuro. 

[Soul Crusher]

Good reminder for me to buy more ammo and dried food today. 

[GigantorX]

i feel sorry for Benny Blanco and his band of 15-25 "analysts", "traders", "strategists" and "researchers"

reminds me of F Troop





-NT

Blanco is a fucking retard. Anyone that looked past the propaganda, the sleazy talking heads on CNBC, Krugman and anyone related to the Fed would see that this economy is still deep in recession and the market was artificially pushed up. Zero volume on the up and heavy volume on the way down.

That's not a good "indicator"

[Soul Crusher]

you want to laugh Gigantor - every time that moronic muppet Krugman writes something in the NYT, all my lib "friends" on Facebook post it as if its gospel. 

Utterly pathetic considering his awful track record. 

[Alex23]

What happened to "keeping this thread clean"?

There are a LOT of buying opportunities right now....