Wednesday, July 21, 2010

The Sacred Religions of Wall Street


Good attitude.
clipped from blogs.wsj.com
Here are some of the religions that have developed on Wall Street and their main characteristics.
The Church of AAPL: Its adherents believe Apple can do no wrong, and I more or less agree with this belief. 
The Church of One True Gold: Do NOT mess with these guys. I posted an article on why I think Gold is the worst investment ever and my inbox immediately filled up with hate mail. 
The Ron Paul Creed: Basically, people who worship at the altar of Ron Paul think the dollar is going to zero. Their argument is that the dollar has fallen straight down since 1913: “It’s lost 97% of its value,”
The PermaBear Faith. You can find a lot of these guys on the zerohedge.com message boards. I like the zerohedge site. Almost every post contains some seed of how the world could potentially end.
The PermaBull Faith. Many think I’m in this group. I do admit that I think the market will go higher from here.
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