"Gamble, drink and die" pt. II

[Minn. Fatz]

"What's the difference between Wall Street and Las Vegas? Las Vegas is regulated . . . "
So Mrs. Minn. and I happen to have picked up some of the old spondulish on a little investment you may have heard about called DXO, it's sorta complicated but the short story is it tracks twice the price of crude, so oil goes up 1%, this goes up 2%, etc.
This week we learn that Deutsche Bank is pulling the plug on us. Howcum, cuz some people in the financial regulation business get up on their hind legs, take a look around and figure DXO is getting way too big, hey, might hurt the little guy, the low roller, the small player.
Funny how I don't remember anyone caring that much about me and mine last fall when the table was icy cold and we were losing every day, every hour on every roll. What was it they were doing again, oh yeah, taking our money and bailing out the big banks, insurance companies and so forth. That and not doing diddly squat about guys who ran world-record Ponzi schemes.
But guys like us, we put our chips on the layout, maybe we can double up but then it's "sorry, pal, we don't like that bet for you, too risky, besides which you might win some more. So no dice, here's the dough for your checks, oh and don't forget to pay us for all those capital gains next April, good-bye and good luck but mostly good-bye. Sucker."
Didja see this, didja hear about this? Madoff gave the bright bulbs from Securities and Exchange the number of the account he was supposedly doing all that "trading" for his marks, er, "clients," from. Do ya think somebody might coulda picked up a phone, dialed 'em up, asked, "hey, Madoff tells us he runs a whole lotta money through there, here's his account number, whaddya say?" Nope. Nothing. Nada. Bupkis.
Well I'm sick and dam tired of being the little guy, the small player, the low roller, so I'm getting in on this Ponzi scheme deal, gonna get Mother Minn. and the rest of the little old gals at her church in it and rob 'em all blind. Bernie Madoff got away with it for like 17 years, in 17 years I'll be retirment age, I hear Duluth is a nice town and they got a Club Fed up there too.
 
Either that or I'm gonna get me real good at that Texas Hold 'Em and go down to Vegas to Bobby's Room and take my money back off every Wall Street sonuvab---h who walks in there. Take 'em for millions and watch 'em smile at me, say "hey Minn. that was great, could ya sign your book for my kid, how about one for old Daddy who's a guest of Uncle Sam for awhile, good thing he hid all that swag overseas first."
 
Gamble, drink and die, that's what I'm gonna do. But right now I'm gonna pour me another Jim Beam rye sour so I can wake up in the morning and not remember writing this crud. I hope.
 
  

[oej719]

Wall street is a bigger crap shoot than ever today.
There is no integrity or feeling of responsibilty anymore.
Once in time stockholders were the owners of the companies. Ceo's and boards have no allegiance to shareholders anymore.

[vidopoker]

Wall street is a bigger crap shoot than ever today.
.

 
so does that mean you are not an investor?

[oej719]

Not in equities.

[vidopoker]

junk bonds, perhaps?
or junk hands ?

[oej719]

There is a whole world of things besides equities that are more reliable than equities at this point in history.
What do you invest in? and are you happy with it?

[vidopoker]

5% is invested in stocks. the other 95% is in cds and online savings accounts. so granted, while most people were earning 6-12% a year for some time (tax deferred)  I was only earning 5% taxable, I also didn't lose 30-60% of the portfolio's value like most people did in the last year +. so yes, on that end, I am happy about it.
 
Granted,  the cd's and online savings accounts are currently earning only 1.5%. yuck!
 
 

[oej719]

Sounds like a solid plan that is working for you.

[vidopoker]

yes, for now.
we shall see what happens in the next few years....