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<p>[QUOTE=&quot;mikem2000, post: 2123635, member: 30574&quot;]Well, our quality time can end anytime you want, just ignore my posts so that is up to you, but your VERY weak response deserves a rebuttal as it actually supports my argument.</p><p><br /></p><p>First up, I never said luck plays no part at all, but I do believe that over the longterm, the role of luck is minimized.&nbsp; I did however say that you and the other stackers were not a victim of Bad Luck as you have indicated. If you actually believe your poor investment performance was indeed bad luck, please explain how a commodity that acted exactly as expected makes you a victim.</p><p><br /></p><p>Now you second point is you actually admitted you did make a mistake, which I totally agree with. So from what I see is 30 years ago you made a &#039;bet&#039; that the strongest economy in the World would collapse. That is certainly not a decision I would have made. That is like picking the strongest building in NYC and betting your life savings that it would collapse in 30 years. While both are possible, it was not likely and you actually seem surprised it didn&#039;t happen.&nbsp; In addition, not only is the building still standing, but the economy is still the strongest in the World.</p><p><br /></p><p>Now this third point is comical. You yourself take the time to start an entire post on this quote and then you call the quote trite. Why is that, did you not understand the quote and thought it meant just hang in there..... You also falsely accused me of rearranging the quote. I did no such the thing. The quote is all about learning from failures and making corrections, that is it.</p><p><br /></p><p>Now moving forward, you claim you don&#039;t need to make any adjustments because things have changed. Well, maybe a little, but guess what, you are still making the same bet that the strongest economy will collapse in the NEXT 30 years. You were wrong 30 years ago, and the most likely scenario is you will be wrong again. Only this time you will no longer have any time to recover. The only logical course of action is really to follow the advice of the very quote you thought was important enough start a thread about, and make corrections. A balanced, diversified plan that covers all bases is they way to go, as your own words have stated, you HAVE made a mistake in the past, so the very strong possibility exists you will make a mistake in the future. Heck, we all do that. I understand the fact that I Will be wrong on some things in the future so I make my decisions accordingly and diversify to protect myself from my own mistakes.&nbsp; To really think you have THE correct answer is arrogant and that will just get you broke in the investing world.</p><p><br /></p><p>Now you point about the Fed goosing wallstreet in the same line as luck being involved makes little sense. How is that Lucky? First off the Fed does nothing to Goose wallstreet. That is a side effect. What the Fed does do is whatever it can to keep the economy humming, which in turn can be very beneficial to wall street. This is no surprise, it is something that MUST be taking into consideration with investment decisions. It is also not only the Fed. There are other folks who are doing the best they can to keep things rolling. They will also continue to do so in the future, which will make your huge bet on the strongest economy in the World collapsing less likely.</p><p><br /></p><p>But hey, if you are happy with you investment results, keep on the same path as you will get similar results. The POS will generally follow inflation and the cost of production, no surprise there. Of course if you want different results you will need to make adjustment.&nbsp; Remember what Einstein said about insanity. It is doing the same thing over and over again and expecting different results.[/QUOTE]</p><p><br /></p>

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