Parisian Family Office, CEO. Began Wall Street, 82. Founded investment firm, CHIPPEWA PARTNERS, Native American Advisors. Member, White Earth Chippewa Tribe. Was NYSE/FINRA arb. Conservative, raised on Native reservations. Pureblood, clot-shot free. In a world elevated on a tech-driven dopamine binge, he trades from Ghost Ranch on the Yellowstone River in MT, his TN farm, Pamelot or CASA TULE', his winter camp in Los Cabos, Mexico. Always been, and will always be, an optimist.
Sunday, February 24, 2008
Alan Abelson at Barron's.......
Lets get some things straight folks. Bear markets are followed by bull markets. There is a bear market going on today on Wall Street which is nothing more than temporarily lower stock prices. The stock market will go much higher in your lifetime. Listening to a broker or financial advisor talk you into selling your stock market exposure and buying bonds does two things. It assures him and his firm of some fat commissions and it assures long term, tremendous loss of purchasing power in your portfolio. Maybe the SEC should require that Barrons put a disclaimer on his column every week. No, that's not the answer either, because investors have every right to be wrong and if they wouldn't sell with such fear and panic it wouldn't allow for lower levels of stock prices. My old friend in LaJolla, Bill Gritz, the finest 80-year old ocean swimmer I have ever known, told me once, "Dean, buy them when there is NO good news in the newspapers about stocks, you'll make plenty of money".