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Tuesday, January 6, 2009

Jack Vettriano Back Where You Belong

As I said in Part I everyone in the insane asylum looks normal, but at least the doctors are sane. Unfortunately, in the insane asylum known as the stock market all the doctors (brokers) are also insane.
The doctors in the insane asylum went to medical school to learn how to treat the patients so the could get well. On Wall Street you go to as it will not tell you if a stock is going to go up. Buy and Hold is taught the wrong way. It is OK to Buy and Hold as long as the stock is going up, but not when it goes down. No broker is taught how to protect a customer's money.
When I was a floor trader I learned in a hurry not to hold on to somethingthe doctor (broker) who is supposed to help you become financially well, maybe none of these Wall Street experts ever learned their profession. They have all been taught the three great prescriptions that make no sense at all: Do Your Research, Buy and Hold and Dollar Cost Averaging. This is what the brokerage houses teach.As I said previously research is worthless,

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