Oh yeah, completely understand the risk tolerance, been catching up with Ann Barnhardt and I am thinking twice about it all too, but for now, I am in;
Ann Barnhardt: ‘If You’re Still in These Markets You’re Either Stupid or On Drugs! ‘
http://www.silverdoctors.com/ann-barnhardt-if-youre-still-in-these-markets-youre-either-stupid-or-on-drugs/
Ann: It’s just par for the course, and really the big news within the last few days relative to the PFG case is the 7th Circuit Court of Appeals decision- relative to (and I know we’re getting into lots of different companies and lots of different outfits here) the Sentinel Management Group, which was a non-clearing FCM, that was a Ponzi, that crashed all the way back in 2007. So this happened 5 years ago, and they’re just getting the stuff adjudicated- like I said, the decision from the 7th Circuit Court of Appeals just was published on Friday.
What that decision said, unbelievably, is that basically all property rights in the United States are gone. Up in smoke. The court ruled that if you have money with an FCM and they fraudulently used YOUR MONEY that they’re holding as a custodian- if they use your funds to go and borrow money to finance their own in-house proprietary trading desk, when that Ponzi collapses, the customers have absolutely no rights to their own property, and that the counter-party- meaning the mega-bank that lended the FCM the money fraudulently, they stay at the front of the line!
It isn’t just about risk tolerance, but morality as well. My money is for living expenses and for retirement. If Wall street loses it, then I can’t replace that money. I can be out on the street in my old age and they will not bat an eye, and the government will not prosecute them.
What has been going on is fraud, and I will not reward it anymore. There are plenty of small things to invest in close to home that do not require Wall street fraud.