Today I'm at Bookends and Beans. Its a small coffee shop and bookstore. The internet wifi works well here.
I'm meeting Jim S. at noon. He is a retired college teacher who moved from Florida to here to be near his family.
He is investing in an energy ETF. I talked him out of his energy mutual fund with it's high commissions.
I think he is still taking too many risks. Today Hugo Chavez nationalized all of the oil industry in Venezuela. That caused energy stocks to go down. I'm going to point out to him that no matter how conservative he thinks he is, he is still trading.
The way I see it, if you are going to trade, don't fool yourself. Get in there and take advantage of the downturns to make money by betting against things. And you have to watch the news every minute. In fact, I doubt that this move could have been forecast.
I think its time to buy a TIPS fund or maybe a junk bond fund and kick back. We may never see the market move back. After all, we've been shipping our jobs to China. Now might be the time to buy dto of skf. DTO shorts the oil market and SKF shorts the financials. I think it might be better to just get a part time job and curtail spending.
I'm thinking about panning for gold. I'm waiting to get moved into an apartment so I won't have to mow the lawn. I'll also have more money for a metal detector and for membership fees into gold prospecting clubs. I probably won't get that done until next year. I'm on a waiting list for a retirement apartment.
Its almost time for Jim to get here so that's all for now.