Oct

31

 For at least the time I have followed to both the libertarian "movement" and markets, there has been a broken-record band of promoters selling the same defective message.

The thematic predictions are only a part of the damage. The hidden damage is that so many of the gurus promote sectors with terrible track-records of returning value to investors. Not only do you miss the drift, you are very likely to suffer continual dilution and large losses in a micro-cap mining stock or highly speculative energy development project.

I had the good fortune of seeing a "Libertarian Guru" portfolio - 100% in foreign, illiquid, micro-cap energy and mining plays. Completely off the wall, opaque stuff, all marked down about 70% from cost. My guess at the time was that liquidating the portfolio and converting back to USD would cost an additional 15%, perhaps more.

If the Sch—s of the world turned out to be agents (sent by those who propogate "the idea") to destroy the financial base of the budding libertarian movement, wreck its members fortunes, etc, they could hardly have done a better job.


Comments

WordPress database error: [Table './dailyspeculations_com_@002d_dailywordpress/wp_comments' is marked as crashed and last (automatic?) repair failed]
SELECT * FROM wp_comments WHERE comment_post_ID = '9778' AND comment_approved = '1' ORDER BY comment_date

Name

Email

Website

Speak your mind

Archives

Resources & Links

Search