In the early days of the crash it was widely believed that Jesse L. Livermore, a Bostonian with a large and unquestionably exaggerated reputation for bear operations, leading a syndicate that was driving the market down.
If the stock market does go through a crisis of confidence, which I think clearly will happen one of these days, no one can predict just like you couldn't the dot com crash or the Lehman crash, but when it goes down it will go down by thousands of points because everyone will panic. No one owns this market today because they believe there's a huge sunny future for the United States economy. They're buying because they think the Fed can keep the thing pumped up, the bubble expanding.
The trick is, a market has to be nonexistent when you start. If the market is large early on, you will have too many competitors. You have to make it large.
My life is routine-obsessed. I'm OCD, and if I'm not at home, I always get up early and exercise. I don't crash and burn at night, not these days, so early-ish to bed. At home, I have three small boys who bring me down to earth with school runs and endless meals.
There was a project at Lawrence Livermore National Labs where many years ago they went down this path for scripting and controlling very large numerical calculations.
Starting in the wake of the 2008 GFC (Global Financial Crisis), market observers have warned of a crash in the bond market. Initially, it was believed that the trillions printed to bail out the banks would cause inflation and, therefore, a flight from bonds.
Normally, if you have a huge category that leads a bear market all the way down to the bottom - like tech after 2000, or energy in the '80-'82 bear market - you get one quick pop, and then years of lag as we fight the old war.
you fly until you crash two days two nights no sleep, no food, come down off the monster YOU CRASH REAL HARD
Since 2008 you've had the largest bond market rally in history, as the Federal Reserve flooded the economy with quantitative easing to drive down interest rates. Driving down the interest rates creates a boom in the stock market, and also the real estate market. The resulting capital gains not treated as income.
As a bull market turns into a bear market, the new pros turn into optimists, hoping and praying the bear market will become a bull and save them. But as the market remains bearish, the optimists become pessimists, quit the profession, and return to their day jobs. This is when the real professional investors re-enter the market.
There are no bad days in the market. When the market is down, you've got bargains, and it's lovely to think of what you are buying at low prices. When the market is up, the bargains have gone, but you're rich.
The fact that the bond market is rallying today is a plus. If this ends up being a bear market, it will be one of the first ever that began when interest rates are down.
I think that I could have been take apart if the bear market continued, but I waited three years before I felt the bear market was over and I was right.
Look at those hedge funds - you think they can wait? They don't know how to wait! I have sat for years at a time with $10 to $12 million in treasuries or municipals, just waiting, waiting...As Jesse Livermore said, 'The big money is not in the buying and selling...but in the waiting.'
NBC is excited about the investment in WWF Entertainment. The WWF is widely recognized as having created a leading brand and has done a remarkable job gathering large audiences in the coveted male demographics.
The art of leading, in operations large or small, is the art of dealing with humanity, of working diligently on behalf of men, of being sympathetic with them, but equally, of insisting that they make a square facing toward their own problems.
It is common knowledge that smoking is considered one of the nation's leading causes of preventable death, but it's less widely known that cigarettes are also the leading cause of fatal fires.