Porter Stansberry advising going to 100% cash - Help!

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sperry8
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Porter Stansberry advising going to 100% cash - Help!

Post by sperry8 » Fri Dec 13, 2013 9:38 pm

[Restarted old thread. Check posting dates before responding. - admin alex]

Hello all,

A friend of mine sent me the S&A Digest newsletter from Porter Stansberry. He sends me them from time to time (I'm not a subscriber but he is). Apparently, yesterday Stansberry announced he is calling for a 50% drop next year. Stansberry's quote (full text below):

"My bet is that a lot of selling happens during the first week of January – as that will push capital-gains taxes into the next tax year. If I'm right about where the market is heading, January should be a terrible month for stocks.

Let me be clear. I'm not equivocating: I believe we are on the verge of a massive rout in stock prices. I see U.S. stocks falling at least 50% in terms of valuation between now and the end of next year. Stocks are going to get crushed."


[remainder of excessive extract removed by admin LadyGeek]
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Re: Porter Stansberry advising going to 100% cash - Help!

Post by Beat The Street » Fri Dec 13, 2013 9:47 pm

You know Porter Stansberry is a scam artist right? Do some research on google, he was fined millions by the SEC years back. He may have called the crash of 2008, but he also called 15 other crashed that didn't happen. A broken clock is right twice a day. Bottom line, Stansberry is a clown and no one should take his advice. He is just trying to get attention to sell people like your friend his newsletter. Fear sells very well.

With all that said, he could get lucky and be right who knows.
“Never ask anyone for their opinion, forecast, or recommendation. Just ask them what they have—or don’t have—in their portfolio.” -Taleb

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Re: Porter Stansberry advising going to 100% cash - Help!

Post by hsv_climber » Fri Dec 13, 2013 9:49 pm

Below is the best advice for your friend. Either he will follow it or not is up to him.
Taylor Larimore wrote:
What`s an investor to do?
This is your answer -- whether bullish or bearish:

The Boglehead Philosophy:

1 Develop a workable plan
2 Invest early and often
3 Never bear too much or too little risk
4 Diversify
5 Never try to time the market
6 Use index funds when possible
7 Keep costs low
8 Minimize taxes
9 Invest with simplicity
10 Stay the course

Best wishes.
Taylor

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Re: Porter Stansberry advising going to 100% cash - Help!

Post by TheTimeLord » Fri Dec 13, 2013 9:49 pm

Who is Porter Stansberry?
IMHO, Investing should be about living the life you want, not avoiding the life you fear. | Run, You Clever Boy! [9085]

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Re: Porter Stansberry advising going to 100% cash - Help!

Post by Beat The Street » Fri Dec 13, 2013 9:54 pm

Someone who had to write a $1.5 million check to the SEC for fraud. He also made a video called "End of America" in 2011. Good thing stocks tanked in 2012 & 2013.....
“Never ask anyone for their opinion, forecast, or recommendation. Just ask them what they have—or don’t have—in their portfolio.” -Taleb

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Re: Porter Stansberry advising going to 100% cash - Help!

Post by larryswedroe » Fri Dec 13, 2013 9:54 pm

simple question: Do you think Warren Buffett is paying attention to what Porter Stansberry is advising?
If not, why do you think you should?
Larry

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Re: Porter Stansberry advising going to 100% cash - Help!

Post by Rainier » Fri Dec 13, 2013 9:55 pm

I didn't read most of that, but posting entire articles is fairly obnoxious and probably against forum rules.

Record valuations? Huh? Must not have been around way back in 2000.

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Re: Porter Stansberry advising going to 100% cash - Help!

Post by Sriracha » Fri Dec 13, 2013 9:57 pm

sperry8 wrote:[Content in excess of copyright fair use removed by admin LadyGeek]
OK, I admit I didn't read the whole post. And I don't know the guy who is making this prediction about a 50% decline in equities b/c I don't follow folks who make their living with such predictions.

But with regard to the section I quoted above, I think you need to tell your friend that he has no business being 100% in equities if he can't stomach a drop of 50%. In other words, he needs to develop a plan with a reasonable asset allocation, etc. Refer him to the wiki ... he needs to learn the basics for himself more than he needs an off the cuff response from us.
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Re: Porter Stansberry advising going to 100% cash - Help!

Post by Kenkat » Fri Dec 13, 2013 10:05 pm

If you just google Porter Stansberry, I don't know why anyone would listen to a word this guy says.

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Re: Porter Stansberry advising going to 100% cash - Help!

Post by TimeRunner » Fri Dec 13, 2013 10:11 pm

Your friend could easy have another $149 if he doesn't renew his newsletter subscription. I guarantee it!
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Re: Porter Stansberry advising going to 100% cash - Help!

Post by leonard » Fri Dec 13, 2013 10:13 pm

Who the heck is Porter Stansberry. (btw - it's rhetorical. I don't really care who he is and I don't want to google it.)
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Re: Porter Stansberry advising going to 100% cash - Help!

Post by telemark » Fri Dec 13, 2013 10:28 pm

If your friend is 100% in stocks, then selling half of them is probably a good idea, especially if he is afraid of losses.

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Re: Porter Stansberry advising going to 100% cash - Help!

Post by Sriracha » Fri Dec 13, 2013 10:29 pm

TimeRunner wrote:Your friend could easy have another $149 if he doesn't renew his newsletter subscription. I guarantee it!
:thumbsup
Don't reach for yield.

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Re: Porter Stansberry advising going to 100% cash - Help!

Post by timboktoo » Fri Dec 13, 2013 10:46 pm

Your friend might be taking more risk than he is comfortable with. Pass him the following links. He will either get it or he won't, but at least you tried.

http://www.bogleheads.org/wiki/Boglehea ... Philosophy

http://www.vanguard.com/us/insights/sav ... llocations

- Tim

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Re: Porter Stansberry advising going to 100% cash - Help!

Post by Novine » Fri Dec 13, 2013 10:48 pm

Your friend is a market timer. He botched it once this year by sitting on the sidelines while the market continued to new highs - I bet he went to cash with fears of the "fiscal cliff" - and then jumped back in trying to play catch up. Until he's willing to acknowledge what he's doing and how poorly that's served him, I don't see how you're going to have much luck convincing him to change his ways. As others have noted, someone who can't stomach a 50% drop shouldn't be 100% in equities so perhaps going to cash isn't such a bad thing for him.

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Re: Porter Stansberry advising going to 100% cash - Help!

Post by abuss368 » Fri Dec 13, 2013 10:53 pm

This is market timing which has been proven time and again that it does not work.

As Jack Bogle always recommends, select your asset allocation based on your goals, time horizon, and tolerance for risk and then stay the course!
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Re: Porter Stansberry advising going to 100% cash - Help!

Post by sperry8 » Sat Dec 14, 2013 12:07 am

Rainier wrote:I didn't read most of that, but posting entire articles is fairly obnoxious and probably against forum rules.

Record valuations? Huh? Must not have been around way back in 2000.
Yes, I should have thought twice about doing that. I've been issued a stern warning :( It won't happen again.

And thank you all. I sent him the link so he can read your responses. Hopefully this helps!
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Re: Porter Stansberry advising going to 100% cash - Help!

Post by FrugalInvestor » Sat Dec 14, 2013 12:18 am

Deleted comment
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Re: Porter Stansberry advising going to 100% cash - Help!

Post by larryswedroe » Sat Dec 14, 2013 9:33 am

In 2002, the SEC brought a case for securities fraud and a federal judge fined him $1.5 million in 2007

In 2010, Stansberry published a viral 77-minute infomercial titled "End of America"

In an August, 2011 online debate with James Altucher, Stansberry predicted that Europe's debt crisis would intensify in the coming year, with Italy's Unicredit being "the next big domino to fall." Stansberry predicted that once Unicredit fell, Germany would not bail it out, and that Germany would leave the European Union within the next twelve months (by August, 2012). Additionally, Stansberry predicted that the U.S. Dollar would lose its reserve status and the U.S Treasury "bubble" would burst.] In light of these oncoming financial calamities, Stansberry recommended that investors convert their assets to 50% gold and 50% cash, if they were not willing (or able) to actively short stocks

Anything else you need to know about Porter Stansberry?

Larry

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Re: Porter Stansberry advising going to 100% cash - Help!

Post by Sriracha » Sat Dec 14, 2013 11:52 am

Looks like he deserves an invitation to speak at Bogleheads Reunion 2014. :shock:
Don't reach for yield.

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Re: Porter Stansberry advising going to 100% cash - Help!

Post by baw703916 » Sat Dec 14, 2013 12:12 pm

larryswedroe wrote:In 2002, the SEC brought a case for securities fraud and a federal judge fined him $1.5 million in 2007

In 2010, Stansberry published a viral 77-minute infomercial titled "End of America"

In an August, 2011 online debate with James Altucher, Stansberry predicted that Europe's debt crisis would intensify in the coming year, with Italy's Unicredit being "the next big domino to fall." Stansberry predicted that once Unicredit fell, Germany would not bail it out, and that Germany would leave the European Union within the next twelve months (by August, 2012). Additionally, Stansberry predicted that the U.S. Dollar would lose its reserve status and the U.S Treasury "bubble" would burst.] In light of these oncoming financial calamities, Stansberry recommended that investors convert their assets to 50% gold and 50% cash, if they were not willing (or able) to actively short stocks

Anything else you need to know about Porter Stansberry?

Larry
Uh, ok. He thinks that the End of America is nigh, that the U.S. dollar is about to lose its reserve status--and so you would want to go to cash? :?: As in dollars? (about to lose reserve status) Or Euros? (about to collapse once Germany pulls out). What then? Even assuming the prediction is accurate, the proposed course makes no sense in light of the prediction.
Most of my posts assume no behavioral errors.

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Re: Porter Stansberry advising going to 100% cash - Help!

Post by denovo » Sat Dec 14, 2013 12:42 pm

Beat The Street wrote:You know Porter Stansberry is a scam artist right? Do some research on google, he was fined millions by the SEC years back. He may have called the crash of 2008, but he also called 15 other crashed that didn't happen. A broken clock is right twice a day. Bottom line, Stansberry is a clown and no one should take his advice. He is just trying to get attention to sell people like your friend his newsletter. Fear sells very well.

With all that said, he could get lucky and be right who knows.
How can someone with the name Porter Stansberry be a fraud? He sounds like British royalty with that name? Har har.

Quite seriously, this guy is a joke. I've seen clips of that absurd video.
"Don't trust everything you read on the Internet"- Abraham Lincoln

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Re: Porter Stansberry advising going to 100% cash - Help!

Post by dratkinson » Sat Dec 14, 2013 1:07 pm

January will be a buying opportunity for stocks? Good to know.
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Re: Porter Stansberry advising going to 100% cash - Help!

Post by Watty » Sat Dec 14, 2013 1:58 pm

If you could predict such a large market move then you could make a huge fortune by just investing a small amount in the options market.

He know that he can make more by selling newsletters than by investing using his own advice.

Put the two together and not is he a bad at giving advice but he knows he is bad at giving advice

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Re: Porter Stansberry advising going to 100% cash - Help!

Post by john94549 » Sat Dec 14, 2013 2:07 pm

Well, whatever. My CDs won't get crushed.

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Re: Porter Stansberry advising going to 100% cash - Help!

Post by mickeyd » Sat Dec 14, 2013 2:10 pm

Who is Porter Stansberry?

Who is John Gault?

Who am I?
(I'm the guy that's 60/40 and staying the course.)
Part-Owner of Texas | | “The CMH-the Cost Matters Hypothesis -is all that is needed to explain why indexing must and will work… Yes, it is that simple.” John C. Bogle

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Re: Porter Stansberry advising going to 100% cash - Help!

Post by SP-diceman » Sat Dec 14, 2013 2:21 pm

From Barrons:
Wall Street strategists expect stocks to rise 10%, boosted by a stronger economy and fatter corporate profits. Bullish on tech, industrials.
Now where am I?
Who do I listen to? :oops:

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Re: Porter Stansberry advising going to 100% cash - Help!

Post by baw703916 » Sat Dec 14, 2013 3:24 pm

mickeyd wrote:Who is John Gault?
Wikipedia wrote:John Gault was an American entrepreneur and inventor who created the encased postage stamp. Gault used these encased postage stamps as a means to solve a coin shortage during the Civil War as well as ultimately profit from their sale. He was also a major in the 28th Kentucky volunteer infantry
I did not know this.
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Re: Porter Stansberry advising going to 100% cash - Help!

Post by midareff » Sat Dec 14, 2013 3:30 pm

sounds great.... plenty of cash around to back up the truck at the fire sale.

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Re: Porter Stansberry advising going to 100% cash - Help!

Post by selftalk » Sat Dec 14, 2013 5:08 pm

Porter Stansberry will in all probability make the gypsy fortune tellers look like mental giants. Elaine Garzurelli called the 1987 crash in the U.S. stock market and after that was quoted everywhere and was employed by numerous institutions paying her a high fee I`m sure. She has yet to call it correctly again. Should we listen to her or listen to Sir John Bogle who stresses STAY THE COURSE and earn our fair share of the market returns?
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Re: Porter Stansberry advising going to 100% cash - Help!

Post by Mel Lindauer » Sat Dec 14, 2013 5:24 pm

Tell your friend to remember that the Market Timing Hall of Fame is an empty room.
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Re: Porter Stansberry advising going to 100% cash - Help!

Post by JoMoney » Sat Dec 14, 2013 7:13 pm

I can't find anything really positive about this guy. Even his Wikipedia entry paints him in a poor light. It seems he's a bit of a "perma-bear" always predicting disaster.
Of the market-timing advisers rated at http://www.cxoadvisory.com/gurus/ it would seem most of them are worse than a coin flip. There is a bit of a trend in that the ones who are mostly bullish tend to be above average, and the ones who are mostly bearish tend below average.
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Re: Porter Stansberry advising going to 100% cash - Help!

Post by IFKC » Sat Dec 14, 2013 7:22 pm

Everyone else has already spoken the truth, but let me pile on: no freaking way. The guy's a fraud and a gimmick. And even if he's "right," he's not, he's just lucky.

But even if it comes to pass, for the reasons below, what are you really going to do about it?
baw703916 wrote:
larryswedroe wrote:In 2002, the SEC brought a case for securities fraud and a federal judge fined him $1.5 million in 2007

In 2010, Stansberry published a viral 77-minute infomercial titled "End of America"

In an August, 2011 online debate with James Altucher, Stansberry predicted that Europe's debt crisis would intensify in the coming year, with Italy's Unicredit being "the next big domino to fall." Stansberry predicted that once Unicredit fell, Germany would not bail it out, and that Germany would leave the European Union within the next twelve months (by August, 2012). Additionally, Stansberry predicted that the U.S. Dollar would lose its reserve status and the U.S Treasury "bubble" would burst.] In light of these oncoming financial calamities, Stansberry recommended that investors convert their assets to 50% gold and 50% cash, if they were not willing (or able) to actively short stocks

Anything else you need to know about Porter Stansberry?

Larry
Uh, ok. He thinks that the End of America is nigh, that the U.S. dollar is about to lose its reserve status--and so you would want to go to cash? :?: As in dollars? (about to lose reserve status) Or Euros? (about to collapse once Germany pulls out). What then? Even assuming the prediction is accurate, the proposed course makes no sense in light of the prediction.
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Re: Porter Stansberry advising going to 100% cash - Help!

Post by john94549 » Sat Dec 14, 2013 7:33 pm

Funniest thing I ever read was this guy buying up toilet paper. Seriously. He had his garage filled with toilet paper. He figured in the collapse of everything, folks would still want toilet paper. When you think about it, he probably had a point.

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Re: Porter Stansberry advising going to 100% cash - Help!

Post by baw703916 » Sat Dec 14, 2013 7:53 pm

john94549 wrote:Funniest thing I ever read was this guy buying up toilet paper. Seriously. He had his garage filled with toilet paper. He figured in the collapse of everything, folks would still want toilet paper. When you think about it, he probably had a point.
My part of the world gets snow often enough to cause problems every winter, but not often enough that people really learn to deal with it. Every time there's a snowstorm predicted here, there seems to be a run on bananas, milk, and toilet paper from the grocery stores.
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Re: Porter Stansberry advising going to 100% cash - Help!

Post by sperry8 » Sat Dec 14, 2013 8:00 pm

larryswedroe wrote:In 2002, the SEC brought a case for securities fraud and a federal judge fined him $1.5 million in 2007

In 2010, Stansberry published a viral 77-minute infomercial titled "End of America"

In an August, 2011 online debate with James Altucher, Stansberry predicted that Europe's debt crisis would intensify in the coming year, with Italy's Unicredit being "the next big domino to fall." Stansberry predicted that once Unicredit fell, Germany would not bail it out, and that Germany would leave the European Union within the next twelve months (by August, 2012). Additionally, Stansberry predicted that the U.S. Dollar would lose its reserve status and the U.S Treasury "bubble" would burst.] In light of these oncoming financial calamities, Stansberry recommended that investors convert their assets to 50% gold and 50% cash, if they were not willing (or able) to actively short stocks

Anything else you need to know about Porter Stansberry?

Larry
Thanks Larry. This should prove helpful. Obviously Porter reminds his readers of his correct bearish call in 2008 and his correct call re the fall of GM a month or two prior - as he attempts to gain credibility in his readers eyes by doing so. But these incorrect bearish calls paint a new light on his prognosticating abilities and should assist my friend having a more accurate view of the % of times Stansberry is correct.

And my sincere thanks to all. I showed my friend the first half of this thread (prior to my earlier response) and he said "they remind me of the most basic tenants of investing and puts up a mirror to my investing so I can see the extreme ways in which I am investing. LOL. Wow, what a reality check! Hmmmm....time to take a look at rebalancing the 401K one final time and then be done with it for a while."

Thank you :D
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Re: Porter Stansberry advising going to 100% cash - Help!

Post by nedsaid » Sun Dec 15, 2013 11:48 am

This reminds me of Elaine Garzarelli who correctly called the 1987 stock market crash. Since then, her forecasting record has been spotty at best.

I would not take Porter Stansberry seriously. I watched his video "Death of America" and it went on and on as I screamed at the computer monitor, "Get to your point!" Finally, I shut the thing off. Blah, blah, blah, blah.
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Re: Porter Stansberry advising going to 100% cash - Help!

Post by Helloeeze » Mon Dec 16, 2013 12:53 am

I made it to the end of his viral video End of America (took a nice nap in the middle of it and woke up at the end.) His conclusion was buy U.S. farmland. Yep.

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Re: Porter Stansberry advising going to 100% cash - Help!

Post by gmtret » Mon Dec 16, 2013 2:28 am

A fool and his...
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Re: Porter Stansberry advising going to 100% cash - Help!

Post by YDNAL » Mon Dec 16, 2013 6:31 am

sperry8 wrote:Hello all,

A friend of mine sent me the S&A Digest newsletter from Porter Stansberry. He sends me them from time to time (I'm not a subscriber but he is). Apparently, yesterday Stansberry announced he is calling for a 50% drop next year.....
I can only imagine the responses to your post.

That said, and not knowing anything about Mr. Stansberry (first time I hear), anyone with the ability to accurately (and consistently) forecast the future should NOT have the need to write a newsletter.

That said^2, if Stock Market valuations give you pause (you plead for "Help!" in the subject), the best help I can provide is to suggest that you review your AA and make sure than IF/WHEN we are faced with a 50% correction, that you are prepared to handle it by taking only the risk that you are Able & Need to take - based on your personal circumstances.
Landy | Be yourself, everyone else is already taken -- Oscar Wilde

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Re: Porter Stansberry advising going to 100% cash - Help!

Post by selftalk » Mon Dec 16, 2013 7:53 am

No one knows the future not even Yogi Berra. Stay with your allocation set up and go live your life. It`s TIME not timing that gets you there ( COMPOUNDING ). In fact I have a photocopy of Money Magazine dated April 1994 page # 7. We all should read this page. It will answer a lot of present necessary questions we may entertain. It`s really worth looking this up!

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Re: Porter Stansberry advising going to 100% cash - Help!

Post by EyeYield » Thu Apr 16, 2015 6:26 pm

There was a 50% drop in stocks last year? I slept right through it. :oops:

I just received an email from Stansberry Research and googled it here and of course.....just what I expected. "Billionaires are fleeing the country and stocking their ranches with gold and ammo, but you don't have to if you send for your free booklet now." - Paraphrased"

This time they''re offering a "Survival Blueprint" booklet for free......only $5, but that's for other stuff, not the booklet - it's free. :annoyed

Just a reminder to those who are thinking about subscribing to ANY newsletter.
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Re: Porter Stansberry advising going to 100% cash - Help!

Post by downshiftme » Thu Apr 16, 2015 6:43 pm

The scare mongering and predictions for a 50% drop in 2014 didn't pan out. Obviously.

They are now back with a new round of similarly dire predictions for 70% drop by Oct 11, 2015 (strangely specific).

Apparently fear sells, and the fact that they simply change the prediction to six months in the future as each terrible prophecy fails to happen as predicted doesn't seem to daunt their true believers. Plus there seems to be a new crop of people receptive to the message of fear every few months.

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Re: Porter Stansberry advising going to 100% cash - Help!

Post by LazyNihilist » Fri Apr 17, 2015 10:35 am

downshiftme wrote:The scare mongering and predictions for a 50% drop in 2014 didn't pan out. Obviously.

They are now back with a new round of similarly dire predictions for 70% drop by Oct 11, 2015 (strangely specific).

Apparently fear sells, and the fact that they simply change the prediction to six months in the future as each terrible prophecy fails to happen as predicted doesn't seem to daunt their true believers. Plus there seems to be a new crop of people receptive to the message of fear every few months.
That is unfortunately the case and how these scam artists survive.
I hope there is someway the recipients of those newsletters also get to know about Bogleheads before falling for their tactics.
The only problem is Entropy, leading to the eventual heat death of the universe. [Seen on /.]

Dandy
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Re: Porter Stansberry advising going to 100% cash - Help!

Post by Dandy » Sat Apr 18, 2015 7:12 am

In general you should have an allocation that can withstand a crash. As you get older and have fewer earning years and hopefully a larger portfolio you need to keep an eye on you risk and make sure you have the same risk tolerance.

If you are in retirement you may wish to determine how many years worth of withdrawals you have in relatively safe assets. You don't have to have the Wm Bernstein's 20+ years but having 4 or 5 years might be in order. Having a few years worth of "safe" assets helps you sleep better and gives you a chance to ride out market drops without having to sell equities.

If the equity market drops 50% and stays down for several years will you be ok financially? mentally? If not you probably have too much risk. Because when equity markets take a big hit they can go down 50% (or more). You are likely to face that kind of event once or twice in an investment lifetime.

dc81584
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Re: Porter Stansberry advising going to 100% cash - Help!

Post by dc81584 » Sat Apr 18, 2015 8:36 am

This Porter Stansberry sounds like a clown, but I hope he's right! I have 40 years until retirement, so a drop like that would prompt me to buy like it's nobody's business!

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SpringMan
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Re: Porter Stansberry advising going to 100% cash - Help!

Post by SpringMan » Sat Apr 18, 2015 11:02 am

dc81584 wrote:This Porter Stansberry sounds like a clown, but I hope he's right! I have 40 years until retirement, so a drop like that would prompt me to buy like it's nobody's business!
Sorry but this thinking sounds a bit self centered. If the economy tanks believe me there will be enough unpleasantness to go around. Young people like yourself may lose their jobs. What about your parents that could lose a big part of their retirement nest egg? Psychologically you might not feel like buying like nobody's business when the bottom falls out. You might feel you are throwing good money after bad, as the market can continue to go down, nobody can predict when it will rise again. I do agree Stansberry is a clown and uses scare tactics to sell his agenda.
Best Wishes, SpringMan

KlangFool
Posts: 8925
Joined: Sat Oct 11, 2008 12:35 pm

Re: Porter Stansberry advising going to 100% cash - Help!

Post by KlangFool » Sat Apr 18, 2015 11:14 am

http://www.businessinsider.com/why-nige ... ous-2014-5

<< Levitt and Dubner explain the genius behind such an obvious scam in terms of "false positives," referring to email recipients who engage with the scammers but don't ultimately pay. Reaching out to scores of potential victims isn't much work, thanks to the ease of email, but with each reply from a gullible target, the scammers are required to put forth a little more effort.

Therefore, it's in the scammers' best interest to minimize the number of false positives who cost them effort but never send them cash. By sending an initial email that's obvious in its shortcomings, the scammers are isolating the most gullible targets. If you trash their email, that's fine. They don't want you, someone from whom there's virtually no chance of receiving any money. They want people who, faced with a ridiculous email, still don't recognize its illegitimacy.

As Herley tells the book's authors, "Anybody who doesn't fall off their chair laughing is exactly who they want to talk to."

Read more: http://www.businessinsider.com/why-nige ... z3Xg66jvh1>>

Folks,

The scammers are targeting people who believe stuff without doing simple google.. They are smarter than we think.

KlangFool

KlangFool
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Re: Porter Stansberry advising going to 100% cash - Help!

Post by KlangFool » Sat Apr 18, 2015 12:25 pm

TS,

http://en.wikipedia.org/wiki/Michael_Burry

Asked your friend to read the above URL. If a person is smart enough to predict the financial future, the person will be running his / her own hedge fund. Why sell newsletter??

KlangFool

bowtie
Posts: 308
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Re: Porter Stansberry advising going to 100% cash - Help!

Post by bowtie » Sat Apr 18, 2015 12:36 pm

I am skipping most of the thread to respond to a misspelling.
It is John Galt, not John Gault.
Although a fictional story, that name sounds less fictional than the name the thread is about. Sounds like a made up name, doesn't it? :happy

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