Whew! Always entertaining cachet. Thats a lot of questions. I'll do my best.
Yes I play the lotteries. I run a pool in my office with 32 other fools:)
Been to Vegas once. Too much to see to bother gambling.
Penny stocks are definitly like the lottery. But to date no one has shown me another market that makes any more sense. (I am about 40% in pennies, 60% in 'good' stuff (yeah right, good stuff. Neither is getting me rich, but the pennies are winning).
I cant help what companies do to develop their products or run their companies. Doesnt mean I agree with it.
Work force economies are in serious jeopardy. Big implosion coming if industry doesnt correct itself. Remember Japan in the 70's? Where are they now? The word toilet comes to mind. Interest rates are negetive. New business is non existent, and all the money that is made is from exports because they have no market within the country. North America is headed in that direction. (I suppose you'll tell me that my holding a position in PTI is adding to the problem?)
Stock market rises are always a percentage of hype. Whats the real value of any company? Market value? Whats that mean?
As for big market corrections and the markets never coming back, that has been said by many since the crash of 1929. Everyone has been wrong every time so far. If you bought in the valleys you are filthy rich by now.
You ask good questions, but ones that have been asked many times before. My former broker used to say "If I had the answers to the market Id be living in Bermuda right now"! In the meantime, nothing in life is without risk, lottery or market. The best stocks get trashed from time to time. The worst ones go up for no reason.
I have a Money magazine from 1992, with the 500 most promising companies of that year. How many are still around today? One - Lucent.
When you find that thing in life that is without risk you let me know ok.
He who smiles at lofty schemes, stems the tide of broken dreams.
R.Hodgson
