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irony is :

securities that perform well, in one of the most heavily secured securities markets in the world, which just happens to be in one of the most dangerous and unsecured cities in the world.

translation: one of the best places to invest your money right now is also one of the most dangerous.

ladies and gentlemen i give you the iraqi stock exchange:

addendum to universal truth no 15:

joy:

is being in it while everyone else is bleeding on every other market in the world.

😀

universal truth no 15 – the alternate ending:

supreme genius and supreme stupidity both rely on the same process of thinking outside the universe that holds the galaxy, that holds the solar system, that holds the earth, that holds the continent, that holds the country, that holds the city, that holds the block, that holds the building, that holds the room that holds the box which you are thinking outside of.

exactly which i am guilty of has yet to be determined.

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5 Comments

  1. It’s a sad day for me. When I was in university, I didn’t get checks from Mom and Dad, I got them from Washington Mutual, regular as clockwork, when tuition was due, allowance, room and board, etc. I don’t directly own any of their stock, but when WaMu dives 35% in one day . . . oh Skunk, what’s next?

  2. You know how much I love “Universal Truth” posts of yours LOL

  3. xpatr: yeah its hard to stomach but every orgy must end in a purging.

    as for whats next, my dad keeps refering back to japan’s bubble bursting 15 years ago. it was different, but similar, over lending, defaulting companies etc,… and their economy has stagnated for 15 years,…. only back then, everyone in the world wasnt in japan. not like a few years ago when even nbk was trying to sell us mortgage funds.

    this time around, what with globalisation of the markets, and funds jumping borders at the click of a mouse, it might just be much much worse.

    i hope i’m wrong, but i think its too early to tell how bad or how not so bad it might be.

    ansam: thank you, thank you, thank you 😀

  4. The stocks I own keep getting lower. One has held steady or risen slightly. Oh, the gamble. What to do… buy more? Hold? Fold? (I don’t mean it about folding.) Given I’ve got decades before I “need” the money, I’m more tempted to keep buying than holding, thinking that SURELY things will turn around before those few decades are up.

    I tell myself, “Right? RIGHT?” But bank takeovers are disconcerting, and when some bank stock prices are less than the cost of a postage stamp… Faith is a tenuous thing. I’d forgotten about Japan’s bubble.

    Will you be opening the Bank of Skunk anytime soon? 🙂

  5. lol the bank of skunk has a nice ring to it!

    but youre right, if you take a long term view, as you have done, then yes i’m sure things will turn around in a couple of decades. oddly enough “time” is the only thing on an investor’s side, and yet so many choose to ignore it cos they’ve already spent the imaginary profits in their head.

    assuming things will get worse, and stock prices on average will halve over the next 5 years, you know, worst case senario,….

    the next 5 years would be a great time to pick up stocks at bargain prices. because the silver lining is that the lower a stock goes, the higher your dividend yield, or if there are no dividends, then atleast the upside potential goes up. provided you didnt pick a company that goes broke like an enron. enrons are rare, but they do happen.

    i think i’ll post something on investing in markets like these next.

    stay tuned 😀


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