Traders eh?
rick_chasey
Posts: 72,978
For those who follow things like gselevator, and have to listen to finance guys having massive c*ck offs with one another, you should enjoy this:
http://www.youtube.com/watch?v=aC19fEqR5bA
A few choice quotes
"Governments don't rule the world, Goldman Sachs rule the world"
"I've been dreaming of this [recession] for three years".
and
“In less than twelve months, my prediction is, the savings of millions of people are going to vanish.”
Hah!
http://www.youtube.com/watch?v=aC19fEqR5bA
A few choice quotes
"Governments don't rule the world, Goldman Sachs rule the world"
"I've been dreaming of this [recession] for three years".
and
“In less than twelve months, my prediction is, the savings of millions of people are going to vanish.”
Hah!
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Comments
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Keep calm and Carry on!
This guy says, buy Govt bonds and the US dollar, then says Govts don't rule the world Goldman Sachs does.
There are always guys like this around they get addicted to the drama of what they are doing cause the money is all they have, they don't do anything creative and can't see the wood for the trees sometimes. Rewind to the eighties crash and the traders who were committing suicide as if the world came to an end. It won't. Granted it may change and it may never look the same, but life goes on.
Success comes through perserverance and endeavour, not through Genius - Winston Churchill - (abbreviated)0 -
Rick Chasey wrote:For those who follow things like gselevator, and have to listen to finance guys having massive c*ck offs with one another, you should enjoy this:
http://www.youtube.com/watch?v=aC19fEqR5bA
A few choice quotes
"Governments don't rule the world, Goldman Sachs rule the world"
"I've been dreaming of this [recession] for three years".
and
“In less than twelve months, my prediction is, the savings of millions of people are going to vanish.”
Hah!
Think I'll stick to music vids of my misspent youth on youtube, rather than this, thanks anyway.
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I like this guy, he did make me laugh (although I believe he is right on many points, except making huge profits on bonds, USD isn't so).
I don't believe the coming bailout will save the €. They need to close some of the bulkhead doors (cut them off) and flood some compartments (Grease, Portugal) to save the ship (the EU).
But hey, what do I know. I just work in IT. I'll leave the finances to the experts.
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So how do the rest of us go about making money out of this crash - that's the bit I wanted to hear.
it's a hard life if you don't weaken.0 -
Aw c'mon guys, this is someone who buys into the matcho GS rules mantra.
You've got to laugh at him, since, unsurprisingly, he has it wrong.
Don't take him as an expert. Laugh at him!0 -
Tom Butcher wrote:So how do the rest of us go about making money out of this crash - that's the bit I wanted to hear.
Buy low and sell high usually works quite well.
These forecasts that those in the industry make just reflect their own financial positioning and vested interests, not what they think should happen but what they want to happen. I wonder if the industry rivals the property industry for the number of guessers and chancers amongst it's ranks.0 -
Rick Chasey wrote:Aw c'mon guys, this is someone who buys into the matcho GS rules mantra.
You've got to laugh at him, since, unsurprisingly, he has it wrong.
Don't take him as an expert. Laugh at him!
Yes there's that too Rick, laugh at the 1980s style trader talk, GS rules, I dream about this, but at the end of it there's still that bit of worry what if he's right about millions losing their savings, pensions etc - people like him usually end up as the ones laughing.
it's a hard life if you don't weaken.0 -
TBF, most of what he's saying is old news/views, just with an arrogant trader spin on it.
It's been pretty clear for at least the summer that the Euro has some massive issues, and probably a lot longer if you actually pay attention to the world economy, rather than just relying on what's said in the media.
As for his bravado at the thought of a recession, he's a trader, putting a positive spin on it is how he manages to get up in the morning!
Of course there are options to make money still, but increasingly it looks to me, like the western economy is seriously ill...You live and learn. At any rate, you live0 -
Tom Butcher wrote:Rick Chasey wrote:Aw c'mon guys, this is someone who buys into the matcho GS rules mantra.
You've got to laugh at him, since, unsurprisingly, he has it wrong.
Don't take him as an expert. Laugh at him!
Yes there's that too Rick, laugh at the 1980s style trader talk, GS rules, I dream about this, but at the end of it there's still that bit of worry what if he's right about millions losing their savings, pensions etc - people like him usually end up as the ones laughing.
He's an independent trader. Can't see him doing well anyway, let alone after this.
The city's a small world and people talk.
Guy like him are the other side of the toinfoil hat coin. The tinfoilers believe there's some new world order pulling the strings. Guys like this think they are the ones pulling the strings.0 -
Ah the new world order conspiracy, those guys are crackers.0
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Rick Chasey wrote:For those who follow things like gselevator, and have to listen to finance guys having massive c*ck offs with one another, you should enjoy this:
Cracking one a few minutes ago
#1: Grunge chick had a sign saying 'Bankster.'
#2:That's weak. I'd prefer 'Capo of Industry.'
(all the folks I know at GS are quite nice, if a little intense)Fckin' Quintana … that creep can roll, man.0 -
iainf72 wrote:Rick Chasey wrote:For those who follow things like gselevator, and have to listen to finance guys having massive c*ck offs with one another, you should enjoy this:
Cracking one a few minutes ago
#1: Grunge chick had a sign saying 'Bankster.'
#2:That's weak. I'd prefer 'Capo of Industry.'
(all the folks I know at GS are quite nice, if a little intense)
(That's largely my experience - with a few very notable exceptions....)0 -
GS don't rule the world. Their profits are obscene, but just a tiny fraction of what the govts spend. One very good year's GS profit wouldn't pay for one failed NHS IT project.
That said, the banks (and especially GS) have too much influence on govt and business and too many opportunities to make easy speculative money. There's also the issue where GS were shorting the mortgage backed securities that they'd created and sold .... you'd hope someone goes to jail.
But this 'trader' bloke is an idiot. I agree that all govts are in a race to the bottom at the moment. Printing money is always the worse and weakest decision to make. The dollar and pound could well be worthless in a few years (see Zimbabwe ... very easy to happen). The euro is in trouble, but at least the Germans are putting up a fight against printing (they don't have a very good history at that sort of thing!!)
If you think the dollar will be worthless, why would you invest in 30 year treasuries and cash? A question I'd ask that trader .... and the whole world. People are talking about the bubble in gold and commodities, but I've got a feeling the bubble is in govt bonds.
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verylonglegs wrote:Tom Butcher wrote:So how do the rest of us go about making money out of this crash - that's the bit I wanted to hear.
Buy low and sell high usually works quite well.
Or in a falling market, borrow them, sell them, buy even lower and return them....!0
