We all like to think we are unique.
Just like the other bazillion people on this planet.
We all get our media from the same sources.
We all drive vehicles, own homes, have jobs, etc.
So we all tend to have the same conventional herd thinking.
So when things are good, everyone's out spending.
When times are tough, people retreat.
I tend to do the opposite of what the herd is doing.
When the housing market was booming, I said sell, this market is going to tank and bring a world wide depression with it.
While attending a wedding in Boston, Ma, my father had me speak with our great uncle who is very rich and plays in the stock market.
I forewarned them both of the coming crash.
They were hysterical. Said buy the biggest house you can afford.
They like the REIT's at the time as they produced great wealth.
I took my lumps, but never backed down.
I sold two houses and netted a hefty sum.
Then the market took a dive.
And my father asked me how I predicted the crash.
Because society moves like a herd of sheep.
Whatever they're doing, I do the opposite.
Also, my old boss Wyly clued me in during 2001-2 daily lunches.
I'm not that smart, but I listen to people and watch things happen.
If I were actually smart, I would have invested my savings in Gold and I would have shorted the housing market.
Then I'd be writing this blog aboard my yacht in the Bahamas!
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