Earlier quoted context omitted.
> Yes, but then they are just as "stuck" with their investments as my uncle is stuck in his car because he hasn't decided if he wants to get out of it or not. Hardly worthy of a newspaper article. One person stuck isn't much of an article, sure. Thousands stuck might indicate something that has economic consequences worth making the news. > It would be different if it was about assets where market movements or lack o…
The last part was of course a joke. I yell at my portfolio manager no matter what he does. But no serious investor should ever have "recovering losses" anywhere in their strategy or consideration. Either you think the price is going up or down, and then you consider fluctuations. And if you are happy to wait and believe it's going up, then don't complain about "being stuck". > One person stuck isn't much of an articl…
A widespread contagion in the industry would wipe out significant parts of the service sector, which we humans rely upon.
> Should I feel sorry for them? Should I send them part of my paycheck to ease their wounds?
The PE firms? Absolutely not. Fuck them.
But as with the CDO mess, the damage won't stay with the Bain Capital types. They'll all be fine; it's the consumer who gets fucked.
As the article notes, that includes things like pension funds. Your 401k, probably, too.
What we should do is prevent this wealth transfer from the poorest to the richest shit from continuing to happen over and over again.