Must Reads Friday, July 3, 2009
Source: http://feedproxy.google.com/~r/ContrarianProfits/~3/OPI_qMnRFZg/18718Posted on Friday, July 3rd, 2009 | In Market Commentary
Contributed by: Contrarian Profits (http://contrarianprofits.com) -
Taibbi goes on air and talks about Goldman article [video] BNN
New evidence on the foreclosure crisis WSJ
Michael Lewis on Wall Street reckoning day Wall St and Tech
Rich Harvard, poor Harvard Vanity Fair
Rogue broker blamed for oil spike FT
Banks own the US government Guardian
Banks’ bogus bonuses The Big Money
NYSE halts transparency ZeroHedge
Britain’s Queen may run out of money by 2012 CNBC
Our globe trotting politicians NYT
Last 5 posts by Contrarian Profits
- The Dollar, the Euro, and being Bullish on Gold - November 20th, 2009
- Audit the Fed – Amendment to a $200 billion bill frightens currency traders! - November 20th, 2009
- What if They Stop Buying our Debt? - November 19th, 2009
- Goldbugs Beware! The tax man cometh! - November 18th, 2009
- Debt – the fall of the U.S. economic empire - November 18th, 2009
ContrarianProfits.com is a financial news and opinion website with a twist. As investment guru Rick Rule puts it, “You are either a contrarian or a victim.” In the financial world, most people are losers because they just don’t know what game they’re playing. They think they can just get “into the market” along with everyone else, do what everyone else does, and they will make money. Not likely. By the time you’ve paid commissions, spreads, fees, taxes – and suffered the consequences of inflation – you’ll be very lucky just to have as much money as you started with.
ContrarianProfits.com is a contrarian site, in the sense that we provide ideas, opinions and recommendations that often run counter to the mainstream financial press. We do this not just to be contrary, but because we’ve realized that Rick is right. You don’t make money by following the crowd; you make money by leading it.
Why is this so? Well, it’s obvious that if you do the same thing everyone else does you’ll get the same results everyone else gets. On average, and over the long run, real investment returns for the typical investor cannot exceed the rate of growth of the economy itself. Everybody can’t get richer faster than everybody else. Real economic growth in the US today averages about 3% per year; if you don’t make any mistakes, that’s about what you can expect. Few people may be satisfied with 3% per year, but most feel comfortable in the middle of the financial herd and are happy to take whatever that gets them. If you’re one of those people, you will probably not like our site. It will make you uncomfortable.
If, on the other hand, you’re willing to look at things a little differently, you’ll appreciate the views of many of our columnists, contributors and visionaries.
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