While it's not surprising, the highest beta stocks are getting killed during the current pullback. As shown below, the 50 stocks in the S&P 500 with the highest betas are down 8.72% since 10/19, while the 50 stocks with the lowest betas are only down 2.11%.
The richest one percent of this country owns half our country's wealth, five trillion dollars. One third of that comes from hard work, two thirds comes from inheritance, interest on interest accumulating to widows and idiot sons and what I do, stock and real estate speculation. It's bullshit. You got ninety percent of the American public out there with little or no net worth. I create nothing. I own.
Wednesday, October 28, 2009
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It's not a question of enough, pal. It's a zero sum game, somebody wins, somebody loses. Money itself isn't lost or made, it's simply transferred from one perception to another.
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