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Hints? Captn Midnight? Hey! How are you?
Originally Posted by gnadfly
Although the polls have turned around some, it's not looking good.
Even if Trump wins in Nov I see mayhem until the inaugaration. If Biden wins, I see more mayhem. Even the analysts at CNBC are allowed to talk about it. I've sold most of my tech in the last two weeks.
I'm in about 70% cash. I have some hard metal but its a two edge sword. Should I be buying more metal? I've got ammo but not for a prolonged event. Got food for a couple of months.
My brother says the best thing you can have is a federal govt job.
Originally Posted by gnadfly
Did someone ring? LOL
Whatever may unfold during the short-to-intermediate future, building your cash position, in my view, is an appealing notion given the uncertainty of the times.
That's what I've been doing, although by way of saving my money instead of committing any fresh capital to the market in recent years, and just staying with the positions I accumulated in about seven tranches between mid-2009 and early 2012. Perhaps sixty or more years ago, the late J. Paul Getty said that the wise investor buys equities when attractively priced and holds through thick and thin, not becoming concerned with mini-panics and other wild fluctuations. I endeavor to never forget that.
As a deep value contrarian investor, I'm also very interested in issues commonly referred to as "dividend aristocrats" -- that is, companies that regularly increase their dividends over a long period of time. For one thing, I love income. (I mean, who the hell doesn't!!?) And I
especially love income taxed at 23.8% instead of the 37% rate imposed on salary, commission, and fee income. (That's like getting a 35+% discount on your tax bill!)
Having said that, the reason I like raising cash in uncertain times like this is that when I have cash, I have options! Although none of us knows when the next big panicked sell-off, financial crisis, or vicious bear market will occur, we know that one of these days it will. History shows that quite conclusively. When the next really attractive buying opportunity comes along, I plan to do what I usually do -- cost average over time with multiple tranches of commitment, and then plan to own for a long time. And I mean twenty or thirty years; not two or three.
It could be one or two -- or for that matter, three of four (or more) years before such juicy opportunities present themselves, but that's OK. I'm very patient. Like a vulture sitting atop a telephone pole, waiting for something to weaken and look like it's ready to fall over dead.
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