The Death Cult Date

Scott,

I am reading a lot about an imminent crash on the US stock market dated to occur on 28 May due to the debt level of the US economy. As a self-funded retiree, you can imagine my concern. Is there anything I should do? I am considering moving my money from its current investment strategies in my superannuation fund to cash. The 2008 crash cost me 40 percent of my investment.

Reg

Hi Reg,

Sorry I didn’t get back to you earlier I was busy in my bunker, stacking baked beans and ‘doomsday prepping’ for the global financial meltdown of 28th of MayWhich was (strangely) a Saturday, when the the market was closed. But if we take a slightly wider view, say Friday to Monday, the market rose 0.3 per cent. What a ride!

Legendary billionaire investor Charlie Munger explains it this way: “People have always had this craving to have someone tell them the future. Long ago, kings would hire people to read sheep guts. Listening to today’s forecasters is just as crazy as when the king hired the guy to look at the sheep guts.”

Seriously, if you trace back the doom and gloom headlines, they almost always lead to a sales page on the interwebs to purchase an investment newsletter. Fear is a fantastic marketing tool, and the more they scare people, they more they shell out. Unsubscribe from this rubbish.

Scott