September, 2018 | Moneytruths

Somebody is going to be wrong….

Thursday, 27^th September 2018

Somebody is going to be wrong….

Last week we reported how various ‘expert’ prognosticators are forecasting doom and gloom not so very far down the road ahead….

Gordon ‘Goldfinger’ Brown, ‘Miserable’ Mark Carney, Moody’s, the British Chamber of Commerce and various economists, all of whom make their living telling the rest of us how things are going to be, were shaking their heads darkly and furrowing their brows….

The consensus is that, all being well, the next global financial crisis will come chugging down the High Street – with all the reliability of a London bus – some time in 2020….

Make a note in your diary. It’s sure to be amusing, interesting or potentially catastrophic – depending on your circumstances….

Worse than the Great Depression….

More experts have been out on maneuvers this week – getting in on the act, speaking to the newspapers or talking out of television sets at folk eating their evening meal….

Economic Commentator, Peter Schiff, for example. He said this to the New York Post….

‘We won’t be able to call it a recession, it’s going to be worse than the Great Depression….’

The soundbite kind of skates over the detail….… Click here to read more

All this gloom can mean only one thing….

Thursday, 20^th September 2018

All this gloom can mean only one thing….

I wouldn’t imagine Gordon Brown is much fun on a night out. The ex-Prime Minister is a relentlessly gloomy animal. A bit like Eeyore in Winnie The Pooh….

I don’t think he ever recovered from presiding over the worst trade in living memory….

As Chancellor of the Exchequer, Brown sold 60% of Britain’s gold reserves in a series of auctions conducted between July 1999 and March 2002….

He got his timing hideously wrong – selling just inches ahead of a huge bull market in gold and ignoring Bank of England reservations before pushing ahead with the misguided sale….

He sold Britain’s reserves of the precious metal for $3.5 billion. In 2011, the same amount of gold was worth almost $20 billion….

Brown was widely pilloried, and the trade came to be known as ‘Brown’s bottom’….

Brown seems to me to have been sucking on a lemon ever since….

Sleep-walking into crisis….

Whenever Brown steps out in public these days, you know the stern-faced son-of-the-manse bears no good tidings….

And he was true to form last week when interviewed by the Guardian newspaper on the tenth anniversary of the global financial crash….… Click here to read more

Are you cut out to make trading pay?

Wednesday, 12^th September 2018

Are you cut out to make trading pay?

At root, successful trading is all about adopting profitable angles, executing them and milking the markets for profit….

And traders who are good at the job can make good money – fast. Faster than conventional buy and hold portfolio investors….

But not everybody is good at the job. And there are no winners without corresponding losers. Somebody must lose….

A lot of people get into trading believing it to be a turnkey profit-churning operation that anybody can take advantage of….

But that’s a wrong-headed notion….

There would be no burger flippers….

If it were that easy there would be no burger-flippers, no taxi-drivers and no traffic wardens….

Instead, every man-Jack and his dog would be sat at home in front of his computer screen – playing the markets, consistently predicting short-term price fluctuations correctly and banking coin….

The truth is that not everybody has what it takes to make trading pay….

A lot of people are not cut out for it….

They lack the basic foundational skills and characteristics required to make a success of the job….

Are YOU cut out for successful trading? Let’s find out. I reckon you need three key things to make it pay as a trader….… Click here to read more