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What Would Elliott Say 8/31/20

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As much of a preternatural bear as I am, I find most permabears clueless about how the market works, and tiresome.   Guys like whathisname that runs the mutual fund who is always wrong. I mean al

Trade what the fucking market gives you for god's sake. How hard is that to do? If the Fed is bidding the market up day after day, that's fucking reality, man. Deal with it. 

I mean really. Why do we let people run around in crowds with AK47s? If burning down stores and throwing bottles of shit isn't ok, and it isn't, then allowing people to walk around with AK47s, or any

11 minutes ago, DrStool said:

I don't want to mention names. But they are both well known. The mutual fund guy, and the chem professor who posted here at the beginning before I told him to get lost.  LOL 

You mean Dr Perry O. Dick-Table?

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Just now, fxfox said:

You mean Dr Perry O. Dick-Table?

Don't know who that is. 

This guy is a chem professor. The other is a mutual fund guy.  Very famous in permabear circles.   

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3 minutes ago, DrStool said:

Reminder - the Dow is price weighted. The biggest price changes carry the most weight, which usually means the highest priced stocks, regardless of how small their total capitalization is. 

Yes. Apple is going from about 12% weighting to about 3% with its split. PFE at 38-ish, XOM at 40-ish and RTX at 61 or whatever are replaced with HON at 165, AMGN at 250, and CRE at 267. Neat trick. 

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6 minutes ago, DrStool said:

Don't know who that is. 

This guy is a chem professor. The other is a mutual fund guy.  Very famous in permabear circles.   

Dr Doom? 😂

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I thought about buying some Berkshire. Problem is, it performed quite bad form a european based investor perspective during 2000 to 2009 when USD was weak. Another thing: It doesnt beat the S&P since 20 or so years it seems. The S&P Total Return actually beats Berkshire since that time? Berkshire pays no dividend, so I simply don‘t know why I should buy Berskshire and not just the S&P.

Besides that I like Buffet. He doesn‘t seem to be an asshole and is calm and so, not very loud. I like that.

Buffet quotes I like:

"You can't produce a baby in one month by getting nine women pregnant." 😂

„The most important thing to do if you find yourself in a hole is to stop digging." 😂

„I just sit in my office and read all day"

"I insist on a lot of time being spent, almost every day, to just sit and think. That is very uncommon in American business."

"The most important investment you can make is in yourself."

„Read 500 pages like this every day. That's how knowledge works. It builds up, like compound interest. All of you can do it, but I guarantee not many of you will do it."

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