These kind of people do not need directives. Their instinctive protection of certain classes is cultivated over cocktails and a dismissive attitude of the common folk. When the time for them to go to battle comes, they do not need any orders. They already know exactly what to do.
Well said and accurate.
When the market crashed in ‘87 people were running around in a panic. I wasn’t. I wasn’t heavily invested since I was pretty much a sprat and was building houses, buying land and such though I had a good job.
There was a salesman who called on me. He had once been a giverment affairs VP for one of the big pharmaceutical companies. We were in the oil business and had lived the glory days of Penn Square bank and $9 natural gas. Anyway, this guy calls on me cool as ice that day. I asked why. He said he was not in common stocks and I asked why again. He said the deals are made on Wall Street and are past by the time we hear about them. They fleece us every day just like we fleeced them here in the oil patch every day. He told me that being in managed money, a fund or the like, is your only real chance of being successful in the market. I have since learned that buying good stocks and holding them is also a way to be successful particularly dividend stocks in the Aristocrat family. Traders can make money but that is not my brand of excitement.