Ca depend, ca depend.
As to capital markets, toujours, ca depend.
The Kaffeeklatsch thanks Chris for his note this Tuesday morning about taking profits off market table.
We think this:
Individual investors who are inattentive to their own holdings and leave determinations about those holdings to others, deserve to get burned when the fire comes. After all, if you haven’t the time to care about the disposition of your own money, are you mentally competent?
What sort of fire will come? And when?
A correction, of some kind, has been long overdue. A correction will come. What does that mean?
The correction anticipates that stocks and bonds, as capital asset classes, are overbought. As an academic construct, that is beyond any debate. The past 5 years have seen an unprecedented run up in liquid capital assets–less so in hard, tangible, assets such as real estate… which is arguably under priced as a class.
Members have been cautioned here for over 3 years to not buy into the instant pricing points..no matter how much more they may yet appreciate.
Is is time to panic–no.
Is it time to take some profits off table as the writer contends? IF you need the money and can afford the tax bite, perhaps.
It’s difficult to write about finances for a general audience because average investors, who’ve no idea what they are talking about, are fixated by what the generic asset markets will do as against traders, who are fixated by what MY assets will do. These are 2, distinctly different, concerns.
Newsgirls and bar flies kibitz about what “the market did today.” Traders have no interest in “the market”….they ask instead…”what did MY money do today?” Distinctly different questions.. Profoundly different.
Consider that if you are in it for the long haul and you own principally high end blue chip holdings, you pretty much can’t lose. At the height of the Panica of 2008, the really good stocks barely fluttered, quickly recouped any loses and proceeded from there on an unbroken 5 year run higher.
THE caveat: Complicating our calculations is the comparatively new factor of the effects of QE policies on capital asset pricings and the concomitant, deeply embedded, underlying inflation inherent in those pricings, It is true that the best thermometer of the health of the nation is generally the condition of equity prices. However, when those prices are, in part at least, held aloft by QE simulations, it’s hard to get a true feel for where things actually are on the thermometer.
IF you need the money, take some winnings off table. IF you need it. Asset holders have to look to their individual needs and future plans. The market is not a monolith and she means, often strikingly, different things to different asset holders.
Know your goals, hold to them and don’t be swayed by generalized statements about the markets. Generalizations are, almost always, wrong. Your assets belong to you–tend to them prudently yourself.
So, as to the subject of taking profits off table now.. toujours, ca depend….what are your needs, what are your goals? As a true generalization, all capital assets will one day be sold–otherwise–what’s the point?
Put to the quick, don’t buy into the current equity markets, as they are, beyond dispute, either what is called, fully priced, or very much overpriced. Do not be lured in by the temptation to not miss the run up–you’ve already long ago missed it. You were late to that dance by early summer 2009.
Just as there is always another horse race, likewise, there is always another asset pricings run up. Instead of fretting on spilled milk, set your capital aside in non-committed cash funds and wait for the correction..after which….buy rapaciously, with all 4 feet.
Learn to distinguish between the hackneyed generalizations and the comparative handful of always true, immutable, generalizations such as…all money eventually gets spent, we are all eventually going to die, and it is, always, your job to tend to your own money–not anyone some other guy’s.
Jack
In The Name Of God
AMEN
john begg
IN THE NAME OF GOD.
AMEN
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Index Librorum Prohibitorum
I wear the chain I forged in life.
How short the list one could compile of those of whom it can be said that fame and money did not deprave?
IL MIGLIOR FABBRO
At Washington, capital city of the terminally self-absorbed, mortal man holds to fleeting, feeble and fallible opinion, God immutable fact.
-
- ~~
- It is my assessment that America is dying inside, being eaten away by the horror of the collapse of the middle orders, the attendant societal and religious values and customs of those orders and the ubiquity of war making for dubious purpose.
- ~~
- The rich man ought not be taxed at all~~he ought be compelled to employ and train the poor man~~directly~~personally.~~The principal need in America today is~~financial and industrial De-Globalization~~to facilitate the promotion of the possibility for the average man to get and keep a good job with good benefits paid by the employer~~as was done not very long ago.~~~~Bene Nati, Bene Vestiti, Et Mediocriter Docti~~~~~La crema y nata~~~~~Artista de la conquista~~In sunshine and in shadow~~I hold tight to the Republican view of time and money~~I write night and day~~yet~~while impecunious~~I am vastly overpaid~~in that taking pay to do what I love is unfair~~to my employer~~in a fair system~~under such circumstances~~I should pay him~~not he me~~I am far, far too old a man to be sexually confused~~praise Jesus~~but I am yet young enough to be politically confused~~is anyone not~~in an absolute sense~~I am a Catholic Royalist~~in a practical sense~~I am a Classical Liberal~~a Gaullist~~a Bonapartist~~an American Nationalist Republican~~in either sense~~my head is soon for the chopping block~~to hasten my interlude with Madame La Guillotine~~I write without fear~and without favor of~any man.
- At Washington, capital city of the terminally self-absorbed, mortal man holds to fleeting, feeble and fallible opinion, God immutable fact.
- ~~
- It is my assessment that America is dying inside, being eaten away by the horror of the collapse of the middle orders, the attendant societal and religious values and customs of those orders and the ubiquity of war making for dubious purpose.
- ~~
- The rich man ought not be taxed at all~~he ought be compelled to employ and train the poor man~~directly~~personally.~~The principal need in America today is~~financial and industrial De-Globalization~~to facilitate the promotion of the possibility for the average man to get and keep a good job with good benefits paid by the employer~~as was done not very long ago.~~
CIRE PERDUE~~~Bene Nati, Bene Vestiti, Et Mediocriter Docti~~~~~La crema y nata~~~~~Artista de la conquista~~In sunshine and in shadow~~I hold tight to the Republican view of time and money~~I write night and day~~yet~~while impecunious~~I am vastly overpaid~~in that taking pay to do what I love is unfair~~to my employer~~in a fair system~~under such circumstances~~I should pay him~~not he me~~I am far, far too old a man to be sexually confused~~praise Jesus~~but I am yet young enough to be politically confused~~is anyone not~~in an absolute sense~~I am a Catholic Royalist~~in a practical sense~~I am a Classical Liberal~~a Gaullist~~a Bonapartist~~an American Nationalist Republican~~in either sense~~my head is soon for the chopping block~~to hasten my interlude with Madame La Guillotine~~I write without fear~and without favor of~any man.~~Finis Origine Pendet…
The escape commences…~~September, 1957~~Saint Jane Frances de Chantal Catholic parochial school, called, by anyone of any background, simply: “Chan~al,” a place where, of an autumn day in 1957, school, for me, began and ended in the first convening of the first grade in which a tiny nun, one Sister Dom Bosco, appeared before me, just behind the window appearing at far left of this photograph, and piped out this: “I may be small, but so then, is the Atom Bomb.”~~My determination to escape school commenced immediately on hearing about this Atom Bomb business and took 16 dicey and arduous years to finally accomplish.~~~~Non Sibi
The declaration that:“I am here to save mankind,” means that:“I am here to rule mankind.”
The escape continues…~~September, 1966~~The Cathedral Latin School~~ Finis Origine Pendet~~Κύριε ἐλέησον~~Rejoice and Glad!!~~Amen~~~The Original Angry Bird~~The Catholic University of America Screaming Red Cardinal Mascot~~~~EX LIBRIS~~~~THEOS EK MĒCHANĒS~~16th Juin, Monday, Anno Domini Nostri Iesu Christi, the 2020th Website: http://johndanielbegg.wordpress.comhttp://www.linkedin.com/profile/view?id=122865699&trk=tab_prohttp://www.facebook.com/JohnDanielBeggPublicAffairs http://www.tumblr.com/blog/theoldsoldiershome1952http://www.facebook.com/john.begg.33http://www.pinterest.com/johnbegg33/boards/http://independent.academia.edu/johnbegg/Papers?s=nav#addhttp://www.stumbleupon.com/stumbler/jtdbeggTweets: @jtdbegghttp://www.linkedin.com/profile/view?id=122865699&trk=hb_tab_pro_top “Jean-Marie Le Pen is a friend. He is dangerous for the political set because he’s the only one who’s sincere. He says out loud what many people think deep down, and what the politicians refrain from saying because they are either too demagogic or too chicken. Le Pen, with all his faults and qualities, is probably the only one who thinks about the interests of France before his own.”~~Alain Delon~~Actor John Daniel Begg raises cotton.~~In the Old South, the real Southland, we had a charming expression, when asked what an idle man did for a living:~~“Oh, he raises cotton.”~~
- Which meant, he did absolutely nothing at all, as cotton, “the white gold,” raises herself.
- ONCEPT OF THE CATHOLIC AND ROYAL ARMY OF AMERICA (CRAA) THE CATHOLIC NIVERSITY OF AMERICASeal of The Catholic University of AmericaMotto:~~Deus Lux Mea Est~~Acta Est Fabconcludes…The Catholic University Of America, Washington, The Federal District of Columbia.
1976, Anno Domini Nostri Iesu Christi.
“Who first seduc’d them to that foul revolt? Th’ infernal Serpent; he it was, whose guile Stird up with Envy and Revenge, deceiv’d The Mother of All Mankind” ~~ Paradise Lost Book One Verse 35 Our Mr Milton https://johndanielbegg.com/2016/03/09/the-infernal-serpent-he-it-was-whose-guile–stirred-up-with-envy-and-revenge-deceived-the-mother-of-mankind
How short the list one could compile of those of whom it can be said that fame and money did not deprave? Acta Est Fabula.~~Deus Vult.
Ne plus ultra
- Our Ubiquitous Presence~~Our Queen
Our Queen now 70 years on - ~~
- Simply the best President we could ever hope to have.
- Regina ~ Fortuna Imperatrix Mundi
JOHN DANIEL BEGG 
