Australian (ASX) Stock Market Forum

The official "ASX is tanking!" panic thread

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Buffett on the market today

.[video]http://money.cnn.com/video/news/2011/10/04/n_co_buffett_banks_selloff.cnnmoney/[/video]
 
Tysonboss1 said:
Buffett on the market today

.[video]http://money.cnn.com/video/news/2011/10/04/n_co_buffett_banks_selloff.cnnmoney/[/video]
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Buffett has become nothing more than a shill.... tragic.

Nevertheless I appreciate the propaganda, I have a few penneth worth.
 
wayneL said:
Buffett has become nothing more than a shill.... tragic.

Nevertheless I appreciate the propaganda, I have a few penneth worth.
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The thing is, that Buffet is obviously respected by the masses so what he says does hold sway for many.

In effect he is a defacto spokesman for the US government and therefore I feel it is hard for him to speak 100% of the truth.

Although I do understand what you are saying.
 
Cameron to Offer Optimism Amid U.K. Slump

“If we put in the effort, correct those mistakes, confront those vested interests and take on the failed ideas of the past, then I know we can turn this ship around,” the premier will say. “Success will come: with the right ideas, the right approach, the right leadership.”
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http://www.bloomberg.com/news/2011-...imism-amid-worse-than-expected-u-k-slump.html

LOL. This crap about sums it up folks. Blind optimism should prevail in the end, eh? Double-lol.

Tank x 2.
 
investorpaul said:
The thing is, that Buffet is obviously respected by the masses so what he says does hold sway for many.
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Really, The masses seem to do the opposite to the things he does and says, and he is often riddiculed for the investments he makes at the time he makes them.
 
Tysonboss1 said:
Really, The masses seem to do the opposite to the things he does and says, and he is often riddiculed for the investments he makes at the time he makes them.
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Hmmm, I understand what you mean and know that alot of people on these forums (and others) hold similar views.

However to mum and dad investors he is

1. Rich
2. Successful (over the duration of his life, not saying his recent moves are good)
3. Shown on prime time tv constantly

As a result I feel he would hold some sway.

It was just like an article I read once that said a huge percentage (forget how large) followed Kochie (from Sunrise) as their sole source of financial news and analysis. Mind numbing I know
 
investorpaul said:
1, However to mum and dad investors

2, It was just like an article I read once that said a huge percentage (forget how large) followed Kochie (from Sunrise) as their sole source of financial news and analysis. Mind numbing I know
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1, The majority (at least in Australia) would probably have heard his name, But not really know anything about him or what he does or thinks.

And if mum and dad investors actually took his advice they would be limiting themselves to dollar cost averaging into index funds over very long savings periods, keeping a emergency fund in cash and staying clear of credit cards and excessive debt. It's hard to see how that can be called bad advice.

2, Thats right, and the same for a whole host of talking heads round the world whos advice is often debunked weeks after they have given it.
 
Are we talking about "Buffet": Mega rich; successful yet humble; and able to influence government policy, or are we talking about Sunrise's "David Coch": Ambulance chaser; opinionated; failed stand up comedian and sounds like he still lives in the 50's?
 
notting said:
It seems an 45 minutes is a long time in the markets these days.:eek:
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Back on topic, you are quite right.
This is a 5 min chart of the FTSE 100 futures (Dec 11), presents great opportunities though.

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nulla nulla said:
Are we talking about "Buffet": Mega rich; successful yet humble; and able to influence government policy, or are we talking about Sunrise's "David Coch": Ambulance chaser; opinionated; failed stand up comedian and sounds like he still lives in the 50's?
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If your talking about the post above yours the first 2 paragraphs are on Buffet, the third is about Kochie.
 
Very interesting article today on MB:
http://www.macrobusiness.com.au/2011/10/bull-versus-bear-is-dead/

In my view, the market is pretty much driven by the day to day ongoings in Europe and European related problems (in banking for instance) at the moment. I cannot see any position of any duration which can be predicted to be successful with any solid degree of certainly.

Technical trading rules the markets now?
 
Another turbulent night on the djia. At least this time it was fairly consistant in pushing upwards.

djia 2011-10-05.jpg

Hopefully we can put our "Tanking panic" on hold and get the xao back above 4000.
 
Tysonboss1 said:
1, The majority (at least in Australia) would probably have heard his name, But not really know anything about him or what he does or thinks.

And if mum and dad investors actually took his advice they would be limiting themselves to dollar cost averaging into index funds over very long savings periods, keeping a emergency fund in cash and staying clear of credit cards and excessive debt. It's hard to see how that can be called bad advice.

2, Thats right, and the same for a whole host of talking heads round the world whos advice is often debunked weeks after they have given it.
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Agree, I was however talking about the US market/investor. (I prob didnt make that clear enough in my original post)
 
nulla nulla said:
Another turbulent night on the djia. At least this time it was fairly consistant in pushing upwards.

View attachment 44795

Hopefully we can put our "Tanking panic" on hold and get the xao back above 4000.
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Green is Green, although I would have liked to see the DOW a bit stronger given the gains on Euro markets. (not necessarily stronger in the sense of higher gains, but a more sustained move up without those intra-day dips)

Also we really need to get away from these 3, 4, 5% moves (if you are a bull) and see smaller, more sustained rises. Although I guess that wont happen any time soon/until the Euro is shorted
 
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