Friday, September 5, 2008

Comments on the G&M website

From the G&M comments

FSA LDU from Canada writes:

Adil, a link to your own blog, spouting about the housing downturn is hardly concrete evidence of the same. I think I'll take the analysis of CREA, the BoC and several major economists over the 'dabbling in financial markets' of a renter.

I dabble in the financial markets too, every time I put my ATM card in a bank machine and take out 20 bucks for lunch and a train ticket home. That gives me as much credence to predict the future of housing prices as you.

As for the job market - great to see our economy still moving forward, albeit slowly, despite the global turmoil in the financials, commodities and jobs. Here's Harper gets his majority and we can enjoy four more years of smart economic planning by our federal government, as opposed to four years of economic hell if the Green Shift ever happens.
I thought I would address his many comments:

Go ahead and trust the CREA, BoC and Big Bank analysts! I think they'll lose you money but that's why we have markets. Notice that I didn't say "free" markets, as the manipulation by the US government with all its new facilities, Bear Stearns bailout, Fed cuts and short selling rule changes have discredited that idea.

As for my credentials, I am comfortable that they are sound enough to work for CREA, BoC etc.., I have a professional designation, many years of experience with financial institutions and I have been a markets junkie for 17 years. I am a renter by choice as I believe that housing is overpriced and I will buy when prices are lower, much lower.

I "dabble" in that I am not a full-time trader and I have a day job as a freelance consultant, but I manage my own portfolio and I am up in the bear market.

The gist of FSA LDU's comments are that I am not credible because I don't work for a big institution. That's fine by me. I'll let you the reader be the judge of that, but I have made many predictions on this blog and most of them seem to be coming to fruition. I do plan to change the profile description (thanks to FSA) as it does sound a little hokey.


Beautiful BC said...

People just hate to hear an oppinion that isn't their own! Maybe they should have a blog of their own. I agree with your predictions thus far since you and Garth Turner seem to have a clear view of the past, present and potential future!!! I enjoy your blog, keep up the good work....raspberry to your ney-sayer ;)

Kid said...

Good to see that there are some Canadians who see the reaility for what it is.

I now live in the States and I see the crap hitting the fan in Canada starting end of next quarter.

Keep it coming!

Adil said...

Thank you for the really nice comments which are humbling. I will keep trying to keep it real...