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Old 31st December 2013, 11:45 AM
mrypg9 mrypg9 is online now
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Users Flag! Originally from england. Users Flag! Expat in spain.
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Quote:
Originally Posted by Chopera View Post
I think she is just saying that she made the wrong prediction regarding markets and got burnt. My point is that nobody gets the predictions right in a meaningful way. It sounds like the mistake Goldeneye made was she got overly exposed to one sector and didn't hedge properly.

Let's face it, we're all in it to make money - you don't purposely put savings into accounts that lose you money do you? You didn't invest in property to lose money did you? And you didn't run a car business to fix people's cars for free. Goldeneye just did what everyone does - they put their money where they thought it would grow most.

She regrets not getting out and puts it down to greed, but she wouldn't be saying that if she hadn't lost money. If I had followed my predictions I would have got out of UK property back in 2005 but I didn't because I couldn't be bothered to sell while living in Spain. I got lucky because as it it turned out my mortgage interest payments were slashed and the property is now worth more than it was before the crash. On the other hand I know people who sold-to-rent back in 2003, thinking there would be a crash, and now they can't afford to buy back the property they sold. Were they being greedy?
I think all such predictions are worthless as market transactions are the result of millions upon millions of individual decisions and thankfully humans have not reached the stage where our behaviour can be predicted with such exactitude.
I hope we never will.

But yes, if she had made money she might well be congratulating herself on her prescience.
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