Sovereign Funds and the Dollar?

[sidewinder]

First Citi Group and now they want to be in the casino business.  Looks like someone has too many fiat Dollars.

(Las Vegas, NV) -- The Dubai [[ doo-BYE ]] government's holding company has increased its stake in MGM Mirage. Dubai World says it has bought additional shares in the Las Vegas resort and casino firm. It now owns six-point-five percent of MGM Mirage stock, up from about five percent. That allows Dubai World to designate a nominee to serve on the board of directors. Billionaire Kirk Kerkorian remains MGM Mirage's largest shareholder.

Happy New Year everyone. And as I've heard many times as I walked away from the blackjack table.

"Better Luck Next time"   

[dananini]

Maybe they'll take a stake in Alberta-Star.Unbelievable.I guess it's "tax-selling".I've never felt more stupid in my life.To any "newbies", never, EVER put your future into the hands of newsletter writers.If you're not market-savy or are just plain-old lazy,just take the market CD rates and go to sleep.Once the "bull" is out in the open,run as fast as you can.This is sickening.

[john77]

Hi Dananini,

Although it is incredibly frustrating to hold a loss - have you in fact sold already?

[sidewinder]

Yeah the "Star"  wish I had dropped it long ago.

At least my other dog Bayswater was up .10 today 5 more days like this I might break even.  Ha!

[sunseeker]

I don’t dismiss newsletters out of hand, but for reasons I have explained in numerous posts it is so very easy to be manipulated by them. Especially if they involve micro-caps. Look at them by all means, but as I have said before to follow blindly will only lead to disappointment.

You might miss out on some big winners, but the mantra is “Don’t loose money”.
Remember a whole lot more people go broke, than make a fortune, by playing the market in too risky a fashion. That is because you aren’t investing you are gambling, and if you are gambling the house invariably wins.

If stockbrokers, analysts, or newsletter writers, market makers etc. are so clever why is it that the vast majority make their money though commission, wages, or subscriptions?  Or to put it another way why haven’t they made millions just by playing the market themselves? Because it is an easier, risk free option to make their money out of you.

So have an investment/exit policy that suits your risk profile(not somebody else’s), and stick to it. Yes I have cut my losses too soon in the past, to my regret (but for vast majority of the time I was glad that I did it). Just remember if a stock has dropped an awe full lot, it can still drop an awe full lot further (and often does). The market has a long memory for these things, and any recovery will generally be long, and painful. You only need to look how long the tech market has taken to pull back. There are many companies where achieving the year 2000 price is still just a distant hope.
Learn the lessons from the past, lest we make the same mistakes again.


Wishing you all a very happy, and prosperous New Year.