Parsad Posted October 19, 2009 Share Posted October 19, 2009 Good article in the NY Times. Cheers! http://www.nytimes.com/2009/10/17/business/17nocera.html?_r=4&8dpc=&pagewanted=all Link to comment Share on other sites More sharing options...
Viking Posted October 19, 2009 Share Posted October 19, 2009 Here is another link that does not require sign up: www.nytimes.com/2009/10/17/business/17nocera.html Link to comment Share on other sites More sharing options...
nodnub Posted October 19, 2009 Share Posted October 19, 2009 very interesting article. I will probably buy the book--it's available on amazon for anyone that is interested. http://www.amazon.com/Great-Depression-Diary-Benjamin-Roth/dp/158648799X/ref=ntt_at_ep_dpi_1 Link to comment Share on other sites More sharing options...
Viking Posted October 20, 2009 Share Posted October 20, 2009 'During the Depression, optimism was ruinous.' Things that make you go hymmmmmm. Definitely NOT the thinking today! Link to comment Share on other sites More sharing options...
Zorrofan Posted October 20, 2009 Share Posted October 20, 2009 Interesting indeed! Everytime someone mentions green shoots I cringe. Is this really over? Has the deleveraging process finished? is the rebound in Asia enough? Interesting times though and an interesting article. If someone does buy the book, I would appreciate comments on if it is worthwhile buying.... cheers Zorro Link to comment Share on other sites More sharing options...
scorpioncapital Posted October 21, 2009 Share Posted October 21, 2009 Interesting indeed! Everytime someone mentions green shoots I cringe. Is this really over? Has the deleveraging process finished? is the rebound in Asia enough? Interesting times though and an interesting article. If someone does buy the book, I would appreciate comments on if it is worthwhile buying.... cheers Zorro And as the article says, nobody knows the answer to any of these questions. Really, there is only one actionable piece of intelligence I found in the article (from an investing standpoint) and that is to not invest using too much debt. Other than that, what else can you do except wait it out, whether it takes one year or ten years? Link to comment Share on other sites More sharing options...
beerbaron Posted October 21, 2009 Share Posted October 21, 2009 Interesting indeed! Everytime someone mentions green shoots I cringe. Is this really over? Has the deleveraging process finished? is the rebound in Asia enough? Interesting times though and an interesting article. If someone does buy the book, I would appreciate comments on if it is worthwhile buying.... cheers Zorro And as the article says, nobody knows the answer to any of these questions. Really, there is only one actionable piece of intelligence I found in the article (from an investing standpoint) and that is to not invest using too much debt. Other than that, what else can you do except wait it out, whether it takes one year or ten years? Allocating capital toward companies that can withstand a second dip or inflation, have good earnings value and low debt. I'd rather cross the ocean with a galleon filled with food, sails and safety boats then cross it with a speedboat. Nobody knows what lies ahead but everybody know which vehicle they use. BeerBaron Link to comment Share on other sites More sharing options...
Viking Posted October 21, 2009 Share Posted October 21, 2009 scorpioncapital, I read your comment: "And as the article says, nobody knows the answer to any of these questions. Really, there is only one actionable piece of intelligence I found in the article (from an investing standpoint) and that is to not invest using too much debt. Other than that, what else can you do except wait it out, whether it takes one year or ten years?" I am pretty sure that should my inverstments fall 85% from their high that I would NOT be able to hold on until they came back (i.e. for 10 years). The chance that we are in the middle of a repeat of the '29 crash and depression is the highest it has ever been since then. If it happens (85% fall in S&P) and one is fully invested they are likely wiped out financially AND EMOTIONALLY. It is this remote scenario that has stopped me from staying fully invested and it has worked very well so far... Link to comment Share on other sites More sharing options...
nodnub Posted October 21, 2009 Share Posted October 21, 2009 Interesting indeed! Everytime someone mentions green shoots I cringe. Is this really over? Has the deleveraging process finished? is the rebound in Asia enough? Interesting times though and an interesting article. If someone does buy the book, I would appreciate comments on if it is worthwhile buying.... cheers Zorro And as the article says, nobody knows the answer to any of these questions. Really, there is only one actionable piece of intelligence I found in the article (from an investing standpoint) and that is to not invest using too much debt. Other than that, what else can you do except wait it out, whether it takes one year or ten years? I would buy the book for historical perspective. The only other way I can think of to get a similar week-by-week perspective on the great depression is by searching old newspapers. Unfortunately, my local library does not have access to any good newspapers from that era. I loved reading the site http://newsfrom1930.blogspot.com/ which some boardmember posted here... but I would really like a resource that lets me search across the entire period. I think you can learn a lot by reading about the experiences of others; much that can be applicable to your investing approach. Link to comment Share on other sites More sharing options...
SharperDingaan Posted October 21, 2009 Share Posted October 21, 2009 Look for news footage from around the 70's, where clips from the people who lived through it were being used (ie: the 60-70 yr/old retirees they interviewed). Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now