“take the money and run”… November 1, 2011

| Tuesday, November 1st, 2011 | Comments Off on “take the money and run”… November 1, 2011

Today as the market prepared to open and stock index futures were pointing to a lower open on continued Greek shenanigans, the financial news network CNBC was playing background music as they panned the floor of the New York Stock Exchange heading to a commercial break.  The tune was Steve Miller’s popular song from the ‘70’s ‘Take the Money and Run’.  At another time we might discuss at a deeper level the merits of the news network’s subliminal messaging, but in short order it is yet another example of the continued short cycle, trading mentality of our stock market culture today.  As we have discussed in previous blog posts as well as our most recent quarterly Point of View, titled Motion Sickness located under our resources tab, this short cycle view of investing can be very dangerous to most investors’ financial health.   Along these lines we recently ran across a very short but salient video by Bill Ackman, a successful hedge fund manager.  We believe this two minute introduction video to a longer lecture encapsulates some key thoughts about the psychology of investing that may be worth revisiting again.
http://www.investmentpostcards.com/2011/11/01/bill-ackman-on-the-psychology-of-investing/

Also, if your interested below is a link to hear The Steve Miller Band’s song from 1975  : )

http://www.youtube.com/watch?v=-WCFUGCOLLU

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