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Author: redswingline Two stars, 250 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 1813  
Subject: Re: Ford and Apple Date: 12/8/2011 3:55 PM
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...engineered by Alan Greenspan's incompetence...

Exactly, Eighteen LONG years of incompetence.
Quoting from the James B. Rogers Jr. interview with Jack Schwager in Market Wizards:

A lot of people blame the October 1987 break on program trading. Do you consider that scapegoatism?

Absolutely...
I remember why I became even more bearish on the weekend before October 19. The week before, [Federal Reserve Chairman] Alan Greenspan announced that the balance of trade was getting much better and things were under control. Two days later, the balance of trade figures came out, and they were the worst in the history of the world. Right away I said, "This guy is either a fool or a liar. He doesn't have any idea what is going on."...

So, what makes this investor really NERVOUS is Jim Rogers' opinion of Alan's successor:

“Dr. Bernanke unfortunately does not understand economics, he does not understand currencies, he does not understand finance,” Rogers, 68, said in a lecture at Oxford University’s Balliol College yesterday. “All he understands is printing money.”
http://www.bloomberg.com/news/2010-11-04/bernanke-doesn-t-un...

Forget Apple, forget Ford. Hide under the bed with your Net in Gold Bullion.
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