Who?? And why is his opinion worth any bandwidth
I had the same thought about your comment
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Who?? And why is his opinion worth any bandwidth
Keens predictions were reasonable for the conditions at the time.
Is Steve really Mr Freckle?
I had the same thought about your comment
Too funny, predictions were reasonable... Really.....you forgot to mention a minor issue they were wrong.
Geez someone got up on the wrong side of the bed
Keen is but one of many contrarian economic/financial commentators who predict a range of things with a common theme. They get things wrong often enough but they also get many things right.
When I got up yesterday morning I looked out the window and there were big black rain clouds heading my way. I changed my plans for the day but the rain never came but skirted around the peninsula.
A reasonable prediction given the conditions at the time.... but I got it wrong.
I note that virtually all the commentators that have made predictions around the GFC regularly get taken to the woodshed because they weren't exactly right or the timing is lousy or they failed to predict other aspects of these events so are inherently wrong.
But here's the thing. When you stack their predictions up against all those who try and convince you it's all much ado about nothing you start to get a fairly clear indication of who's more correct than the other.
The chances of making an accurate well timed prediction are almost zero but that's not the point. Predictions imply something is likely to happen with a reasonable amount of certainty given information available at the time.
Keen is but one of many contrarian economic/financial commentators who predict a range of things with a common theme. They get things wrong often enough but they also get many things right.
Nope but extraneous and derogatory off the cuff remarks don't add anything to a discussion especially when it's your first comment on a thread.
I imagine if you walked up to a group in the real world and threw in a flippant comment you might get more than just a verbal rebuke.
Perhaps you should revisit the many predictions of D&G you have made over the last x years you have been posting, we have had at least 3 property booms during this period.
You obviously haven't been here that long
i think you might be a bit too sensitive for the Internet if my comments are derogatory. Its obvious you are butthurt by the comments and took it personally.
This guy is full of garbage and judging by your reaction you must be his love child or something
My feelings are more common here then you probably think
No bumpier than the GFC, which we sailed through relatively unscathed. Remember, the GFC was the worst economic tsunami since the Great Depression.
When I got up yesterday morning I looked out the window and there were big black rain clouds heading my way. I changed my plans for the day but the rain never came but skirted around the peninsula.
What you did not do was to court significant media attention to yourself when you made that assumption and call it a definite.
What you did not do was to court significant media attention to yourself when you made that assumption and call it a definite.
Great post.
To continue on this theme, Freckle also didn't sell all his possessions and build an ark.
Keen may well fit into that category. Didn't get as wealthy as he could have but didn't get wiped out either.
This is a quote from the movie American-Sniper,there are three types of people in the world the sheep, the sheepherders , then the wolves..Part of that assessment is watching what others are doing (herd mentality).
There was an interesting doco a few years back that looked at why certain personality types had higher survival rates in a crises while the majority didn't.
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Most investors have a reasonable exit strategy. PI's rarely do.[/QUOTE said:At the end of the day regardless of asset class managing risk is part of the game, those who ignore this will suffer the consequence if the market turns.
Clearly the market is changing - 2015 I believe will be a bumpy ride... "another predication".
So how should investors cover their **** -
managing debt/LVR ratio, this could mean selling down when the market is hot, reducing debt.
Ensure the portfolio is not highly ve- geared
Don't jump into markets that have been running hot for too long as you could be jumping in close to peak and you could end up with a loan great than the value of the property when it falls back.
MTR
I find it interesting that Keen was in his early 50s and yet had little real equity when he sold. I think there's some clues to his mindset there.