Wednesday, January 02, 2008
Marginalizing Investing
As I type this, just today gold is up $24 to $859 per ounce - near the 1980 record of $873.
Oil is up $3.50 to $99.59 per barrel.
The NASDAQ-100 futures are down 44.5 points - a monster decline.
The euro is up a full 150 basis points against the dollar.
And Treasury Bonds are screaming with the 10-year up a full point and the long bond up 1.5 points.
So I ask, why do so many people want to "invest" today when there are trading opportunities and volatility galore?
This generation's Warren Buffets will be traders. Buy-and-hold has been superseded by in-and-out.
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