Friday, March 27, 2009
(Cont'd from above)...

Jim (cont'd):   

Now, I want you to fast forward to the second week of March… when I said that we were down 58% and it isn’t going to get much worse… do some buying… I hope these last three weeks convinced you on the value of staying focused on the market, watching the show, trying to get the opportunities that are presented by huge declines in stock… where we have emphasized over, and over, and over again that when things get attractive we have to be willing to pull the trigger… even if it is just for a quick 20% run… you have been bombarded with this fake quandary… is this a real rally… or is it just a rally in a bear market… once again I urge you to shun that false dichotomy… let this period be the lesson that teaches you that those who kept you out because it is just a rally in a bear market… just cost you 20% worth of gains… gains that were available to you unless you decided… nope, can’t do it, I heard them on TV, and my bank doesn’t take money that is made by people in a bear market rally… by the way where I am from, a 20% rally is a bull market on its own… and I don’t think it is done yet either… we got dips… you know what we do… buy, buy, buy.

I come out here each night determined to give you insight that I learned from 30 years of investing… one of the insights that I teach is for you to be skeptical about the money managers that you hear and read about…. why… because I was one… I know they have a built in bias… the bias can if used incorrectly crush your nest egg… even though they wrap themselves in the cloak of credence and sanctimonious nonsense…. so now I want to let you in on something that I was taught… something that I have taught… something that I have dealt with for 20 years when I was just running money for other people… and that is never tell the customer anything… tell them to stay fully invested in the market at all times, no matter what… you know why… a lot of people say that… because they want your fees and commissions… and if you aren’t full invested with them why would you stay with them… they know that you will take your money away… and why shouldn’t you.

What else should I let you in on… how about this one… unlike me, these people will never admit that they are ever wrong… they are just early… they will never admit that they have lost you money… because they don’t regard the loss as a loss until it is realized and they will never tell you to sell… they will never tell you to sell… I regard that as nonsense… these are people that know that if they burn you… they will just find another client and forget you… that is the way the game is played… I have seen… of course, not every broker or money manager is like this… the way the industry is set up they all have incentives to behave just like I described… you have got to understand how subversive this show to the money management industry… and not to be too self important, but since I have read you the facts, obviously there must be something going on… how subversive I am… I am going to analogize… I have spent most of my work life in their kitchen… I know how nasty it is to make the sausage… I know about the spoiled food… I know about, yes, the rodent droppings.

Now what member of this industry could possibly want that exposed… Jim Bolton, Anthony Berdane, kitchen confidential… me… how can I be so bold… knowledge… I worked as a broker and a hedge fund manager, I worked my way up thru Goldman Sachs… I now run a trust where I manage money openly for charity… I don’t want your commissions or your fees… been there, done that… I just don’t want you to get hurt… I want you to make money… if I have to expose the industry practices… if I have to bust the jibberish… if I have to hammer away at the practices and the chicanery that I see…. I will do so… am I fearless…no, just been ripped off so many times myself that I don’t want it to happen to you… which is why I coach you every night.

Which brings me back to this market… this day this time… we don’t want you to think oops the rally is over… we are down 148 points and now the bear is back… we want to help you avoid big losses as we did for you for the last year… and make big money… as I hope that you did in the last 3 weeks… so let’s do this… if you have big gains… sitting on big gains… up 20%, 30%, 50%… some stocks up 80%… well, wait a second, critics hold your ears… I want you the winner to ring the register on something on Monday… do what my late Mom always told me to do when I won a lot of money at the card games, or at the race track… don’t let it ride… go by yourself a sweater… she always made me laugh with that one… she was right.

Stop worrying about whether it is a bull or a bear… find some good stocks… we have a whole bunch of them that we worked on this week… they have gotten cheap because people are overly worried… stocks like the two that I am going to talk about tonight… and learn how do to this yourself please… I won’t always be here… I want you to be on your own, making your own decisions… not bullied by brokers or money managers or intimidated because they make you feel stupid… and not distracted by my media critics… who question why I do this.

Here is the bottom line…

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The Bottom Line!:     I want you to make money and not lose it… if that is novel… if that is heretical… than don’t question me… question the industry that would have you lose money and stay with them… than make money by taking control of your money yourself.

This market is all about control, and I’m here to teach you how to take the reins...    Dow down 148... why don’t we do this… why don’t we stick together… I am here to help you stay in the game.

[verbatim recap]

[end of segment]

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