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Martin Armstrong - A History of Ranting, Wild Predictions, and of Course, Fraud
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John Burns
Posted 2/19/2015 06:48 (#4397312 - in reply to #4397050)
Subject: Managing one's own money



Pittsburg, Kansas

One of the reasons about thirty years ago I decided to manage my own money, was because the one time I tried to let a "professional" do it turned out disastrous. Only took the "sure thing" computer generated, back tested, state of the art, guru designed, computer trading platform six months to loose half of my grub steak.

At that point it was not that I thought I was any good at managing money. It was just that this experience, five years of prior mutual fund experience and all the then voracious reading about investing told me I likely could not do much worse. Once in a blue moon a great trader or investor would come along, but identifying them in advance rather than after the fact I saw no chance of me being any more successful at than just being lucky myself. That and the fees they charged made my own luck even more probable.

Have never been sorry for making that move. Not that I'm any good at it, but I have been lucky at least my fair share of the time, and things have turned out at least in my mind as well or better than with anyone I might have chosen to manage my money.

I read lots of "guru's" or marketing "experts". Most have at least some good ideas, including Martin Armstrong. Few if any would I trust with investing my money. At the end of the day I take the advice, that with my own mind, I can justify their logic and reasoning and invest the money the way only I would.

If it turns out good or bad, at least I have no one but myself to blame or congratulate. I find it best to keep myself humble and not get overly stupid by making the mistake of thinking I actually know what I'm doing. I assume losses are my own lack of skill and simply thank lady luck for most of my winnings. At best, my skill and aptitude might add a few percent to what lady luck brings my way. Then again, it has also been my experience that luck favors the prepared.

John



Edited by John Burns 2/19/2015 07:04
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