Montag, 6. Juli 2009

Arme "Lumpeninvestoren"

But what you can’t count on is how much that cash will really be worth. And there lies the great trap for the lumpen investoriat. The lumpen, as you know, get their investment ideas from TV and the newspapers. The poor rubes are the last to buy in a boom and the last to sell in a bust. A day late and a dollar short, they always get the worst deals. When the papers tell them there’s a recovery – they believe it. When the Fed chief tells them to use adjustable rate mortgages…the silly clumps do it. When a governor of a Federal Reserve banks urges them to „go out and buy an SUV“ they head for the dealers.

Quelle: People Flee Back to the U.S. Dollar

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