The Intelligent Investor On Bank Stocks
If I didn't know better, I'd say someone read my blog post a few days ago and used my remarks about why Ben Graham would not buy financials here to develop a nice article. Seems ironically timely but then Zweig has been writing of Graham for a long time and I have long embraced the ideals made famous by Graham. So, such a coincidence is far from impossible and even more than likely. Zweig has reinforced a key point I wrote about in that post - buying banks here is pure gambling. The market quickly reinforced that fact by putting in the worst day for financial stocks in eight years after that post. Oh, and after Barron's and most everyone who could get a microphone said to buy banks. This isn't rocket science folks. But then we already know Wall Street could never be confused with any rocket scientist with the trillions of dollars in messes they have created.
It would actually be very interesting to hear Graham, The Intelligent Investor, remark on a multitude of topics were he alive today. I am quite confident he would be aghast at what Wall Street has become. Not necessarily surprised but aghast at the Frankenstein before us. I am also confident he would not own any of the stocks or other investments Wall Street has been pumping over the last few years. They've created a massive bubble and as I've written, much of what Wall Street is or has been pumping is likely making twenty or thirty year peaks in price. In other words, it's very likely we won't see prices return to this level for many of Wall Street's favorite investments till most of the people reading this are retired or dead, if at all. You will never, ever hear any of this out of Wall Street. Whether this is a case of the majority having no idea what they are doing or outright deceit or both, Wall Street will suffer the consequences as the markets adjust to reality from their fault-stricken perspective of fantasy.
Anyhow, I'm a big fan of any writings or content regarding Ben Graham and Jason Zweig is one of the best espousing such ideals. His is a very good article you might want to read if you are tempted to believe the great beast.
It would actually be very interesting to hear Graham, The Intelligent Investor, remark on a multitude of topics were he alive today. I am quite confident he would be aghast at what Wall Street has become. Not necessarily surprised but aghast at the Frankenstein before us. I am also confident he would not own any of the stocks or other investments Wall Street has been pumping over the last few years. They've created a massive bubble and as I've written, much of what Wall Street is or has been pumping is likely making twenty or thirty year peaks in price. In other words, it's very likely we won't see prices return to this level for many of Wall Street's favorite investments till most of the people reading this are retired or dead, if at all. You will never, ever hear any of this out of Wall Street. Whether this is a case of the majority having no idea what they are doing or outright deceit or both, Wall Street will suffer the consequences as the markets adjust to reality from their fault-stricken perspective of fantasy.
Anyhow, I'm a big fan of any writings or content regarding Ben Graham and Jason Zweig is one of the best espousing such ideals. His is a very good article you might want to read if you are tempted to believe the great beast.
<< Home