In Buffet’s Footsteps With Online Stock Trading
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It’s never easy to call the bottom of a market. With available options trading and online stock trading programs it’s easier to monitor the market right at my desktop, and then make decisions that make sense for me.
Some of the smart money are taking positions in some of the more risky things right now, like credit and insurance. I’m thinking of Warren Buffet. He hasn’t gotten to be the second richest man in the world by being timid. Conservative, yes. Timid, no.
He has recently taken positions with AIG and with GE Capital. He has done so while the blood is nearly running in the streets.
I am thinking that I may follow along Buffet’s footsteps shortly. I’m not believing exactly that the bill that Congress is enacting will necessarily stem the tide of the markets.
The markets will make liars out of the best of the economists and predictors. And this may be the case, because not a soul — not Paulson, Bernake, Buffet — knows the scope of the bad derivatives out there. So I believe there is a ways to go before reaching a bottom. The rest of the world is suffering a credit and a liquidity emergency, too. We just aren’t seeing it in the United States.
I will start to take some positions in calls and puts after a short lull which I believe will take place after Congress gets through with the “Rescue bill”. Hopefully, I will do this before too many others see what the tea leaves read and dilute any positions.
I have a number of sources I use for information on the markets, and it makes any work at online stock trading easier, but it’s still a crap shoot at a time like this.
Right now, my portfolio is rather tame, but now and in the short term future, there are going to be some small and big fortunes made.
Buffet has gotten some great deals that only he can get, but I think if I pay attention I will be able to ride certain sectors up to a nice prize.
