Quote:
Originally Posted by BettinBilly
That would be wonderful. There is going to be some more correction in the markets, we know that. I'm holding my managed funds and will contribute more to them when the time is right. I am not trading equities at present. Not in this market. But of course, when there is a clear sign that the market may be turning around, I've got some key stocks on my buy list for gaining a position when the time is right.
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i have a guy that lives in one of my apartments in my house. he works in a Chase JP Morgan branch office as a wealth management advisor. his job is to get people that have bank accounts and convert them into managed accounts with JP Morgan.
for 3 years he has been trying to get me as a customer for his advisory services. i told him he is selling pure garbage, he had been begging me to invest in their "innovative strategy fund" i always said now, but he got all his family, including his own father to put in $100,000. that hundred is now worth $60,000. for 3 years he kept telling me how great Jp Morgan is for his family and that even if i was right about the markets coming apart, JP Morgan would protect you through the bad times. finally, he started to question what he is doing and he made me take a look at what was inside this innovative strategy fund. so i looked. this fund is top-heavy in Microsoft, Apple, TSLA, Nvidia, Intuitive Surgical, Bank of America and a lot of what one would call the top names. after looking at it, i explained to him that all these top companies are pure garbage and some won't be around 15 years from now.
so now my friend's lightbulb finally went off. he said why should he listen to me over JP Morgan? i answered that is a great question. so i brought him downstairs to my unit and placed him in front of this computer and we went on this very site. we went back almost 3 years ago when i called for the oil market to go to zero. he saw all the people that read my posts here that proclaimed me sick in the head. we all know what happened to that oil, it not only went to zero, it went to negative numbers and now its over $100. all this only took 4 years. by no means am i saying that oil will be able to hold its price for many years. so i explained to him the same thing is going to happen with stock markets throughout the world. there is going to be a day when the S+P gets to 10,000. but i explained to him that oil was a very quick turnaround, no way are the markets ever going to come back so fast. you are probably looking at 15-25 years to be in the major bull. the guy called his father who lives in Yonkers, New York, and told him to sell his innovative strategy fund. today.
