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Capitulation? 3 Positions I am adding…

October 9, 2008 11:30 pm

I am disgusted and disillusioned. I am sure you are as well. Here is my latest journal from the MSN Strategy Lab (I am currently in 2nd place)

I find myself repeating seven words over and over lately: “This is not funny” and “Oh my God.” The S&P 500 has been systematically taken apart over the past few weeks, and it is no wonder as we have been lied to, cheated against and talked to as if we are imbeciles.

Everyone knows that if confidence is to be restored in the financial markets, the best way is to have transparency and some honesty. For years, financial institutions have been burying the facts deep, to a point that the average investor has no way of understanding what they really are.

These days, the information can be found, but through a convoluted and obfuscating process that renders them all but unintelligible. How can anyone decipher this, and why would anyone want to?

Read the article in detail with my 3 picks HERE

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Written by Andrew Horowitz · Category(s) Long Ideas, Strategy, Strategy Lab    |  Tags: •   

6 Responses to “Capitulation? 3 Positions I am adding…”

  1. Trevor on October 9th, 2008 9:35 pm

    I like what you have to say. It we'd just go back to the basics- good, ol' fashioned honesty and integrity. There's a lot that can said for such a rare characteristic today, and even more to be invested if we could see it in today's market!

    Thanks for the article!

  2. Mark on October 10th, 2008 7:47 am

    Andrew,

    I never thought that I would find someone in the media who I agree with so much. In addition to transparency, I would like to add that accountability is also needed.

    When will this be over? I feel that only a fool would try to call the bottom. What I have been telling my clients is “I can’t tell you when this game will be over but I can tell you that I am confident that we are closer to the end then the beginning.”

    Mark

  3. Andrew Horowitz on October 10th, 2008 7:58 am

    Trevor and Mark;;;

    Thanks for the words.. we wil make it through, work the disciplines

    Andrew

  4. Sam on October 10th, 2008 10:02 am

    Here’s a quick question:

    Is now a prime time to buy up index funds if you’re investing for a long period of time? I’m only in my twenties.

    “Be greedy when everyone is fearful, be fearful when everyone is greedy.” – WB

  5. Johnathan on October 10th, 2008 12:07 pm

    Sam — Don’t try to catch a falling knife!

    The market goes up longer than it falls down; wait for the longer-period averages to turn up. If you want to be SAFE, wait for the year-ago comparison percentage to turn up.

  6. Andrew Horowitz on October 12th, 2008 8:53 pm

    GANG:

    It appears that the capitulation was either close on Friday morning or we are we may possibly see it this week. Take a look at the returns from the 3 listed if you would have bought on the open. I will blog…Wild ride….

    Andrew

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