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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