tag:blogger.com,1999:blog-1527840491496268397.post3284766193840371619..comments2024-03-08T11:20:30.095-07:00Comments on Credit Bubble Stocks: Bulls Are Playing with FireUnknownnoreply@blogger.comBlogger2125tag:blogger.com,1999:blog-1527840491496268397.post-965838068872451712011-01-19T12:57:03.272-07:002011-01-19T12:57:03.272-07:00Legg Mason Value is down about 40% since I started...Legg Mason Value is down about 40% since I started this blog in 2007. (The maximum drawdown was almost 75%!)<br /><br />In contrast, Credit Bubble Stocks has hit it out of the park by correctly predicting the collapse of numerous companies. (And also, getting a variety of longs and capital structure trades right as well.)<br /><br />If someone was bearish throughout the Great Depression would you have said they were "beating the bear drum constantly"? Or, did they correctly perceive and act on the long-term trend, despite brief departures therefrom?CPhttps://www.blogger.com/profile/12701174164478027499noreply@blogger.comtag:blogger.com,1999:blog-1527840491496268397.post-60169667715161400372011-01-19T12:45:33.042-07:002011-01-19T12:45:33.042-07:00Most people would agree that, at the very least, t...Most people would agree that, at the very least, the market is, uhh, overextended.<br /><br />But the point about beating the bear drum constantly is that you will eventually be right, but only in a 'stopped clock' sort of way. Which is a fair point. <br /><br />Nervous bulls -- or nervous market neutral types, like me -- might find this a good day to judiciously sell some puts, i.e. in order to take advantage of the buy-the-dippers, who, if that trend holds (?), will show up soon enough.eahilfhttps://www.blogger.com/profile/11917658744700868462noreply@blogger.com