Did I wake up and it's 1929? I don't have a DeLorean I don't play the market. It seems too much like gambling. But I do own a small amount of Exxon stock that I inherited. A few months ago it was over $100. As of yesterday's $3.41 loss its at $68. Not that big a deal because I don't depend on it and the dividend checks are to small to mean much but a lot of people just lost a lot of money. Yesterday I saw a story where Warren Buffett had revealed the secret of successful investing. He said that instead of thinking of it like he is buying stocks, he thinks of it as buying pieces of businesses that are outperforming their valuation in certain markets. That's it. Pretty simple isn't it.
And still no one from Wall Street will go to jail. They will steal everyone's retirement about 10 more times in my lifetime and no one will ever be prosecuted.
A lot of this is because of oil this time around, oil prices are tanking. A barrel is around 40 bucks now.
Who would you send to jail? Name one person responsible for the crash. You can't put the trends and forces of the economy in jail.
That's what I have wondered. When the market drops and there is heavy selling there has to be a buyer for there to be a sale. Does it ever happen that somebody tries to sell a stock and nobody buys?
Joseph Cassano Vikram Pandit Robert Rubin Ken Lewis Jamie Dimon Lloyd Blankfein John Stumpf John J Mack John Thain
So those are the people who caused the market to crash? Ridiculous. 9 people conspired to ruin the market? Are they the Illuminati of Investing? Are they also responsible for the price of oil and the monetary woes of China?
These are the people who cashed in and profited the most from the market crashing. Remember the housing thing?
Who wouldn't cash in if you are in position to do it? You would have to be a fool not too. I'm sure a lot of savvy small investors who understand the system cashed in too. That doesn't mean they caused it to happen.
