Who Shredded Our Safety Net?

[mawilson 2,133]

Need fresher proof a monkey can do better than the experts? Here you go!

What are the monkey's picks for 2008? I don't see them.

Not that it matters - besides selling short, there was not a single asset class that

would have made you money in 2008. Not a single one.

[ready4ONE 5,400]

Nothing like a snappy reply ruined by bad html!

A monkey's view of the Wall Street meltdown

THE CURIOUS INVESTOR | Time for some real monkey business

Comments

October 5, 2008

DAVID ROEDER droeder@suntimes.com

The third fiscal quarter has skulked into history, leaving a scar on the American mind. With Wall Street gripped to its Guccis by crisis, I was anxious to get the viewpoint of Mr. Adam Monk, Sun-Times-affiliated monkey, master of the markets and titular head of our Monkey Manager reader stock-picking contest, for which I herewith provide an update.

Many readers have terrific entries that, given the current market, should automatically qualify them for a MacArthur Genius grant. Our leaderboard is attached to this article and the masses of us can only read it and wonder why we weren't so sharp with our investments. The person with the best performing stock at year end gets a vacation to Mexico, courtesy of Apple Vacations, but that's still a long way off, considering that year end is seven weeks after the election and the election never seems to get here.

» Click to enlarge image

Mr. Adam Monk makes his 2008 stock picks last December. Monk calls the bailout plan a “bipartisan license to steal.”

(Al Podgorski/Sun-Times)

RELATED PDF

Monkey manager 10/5/08

I wanted Mr. Monk's take on the situation and figured he'd be anxious to talk, given that the wise old cebus monkey is beating the market again. Well, the major market indexes are down 22 percent to 26 percent this year and Mr. Monk's portfolio is down about 20 percent. Hooray! You have to cherish these small victories.

http://www.suntimes.com/business/roeder/12...ious05.article#

Need fresher proof a monkey can do better than the experts? Here you go!

What are the monkey's picks for 2008? I don't see them.

Not that it matters - besides selling short, there was not a single asset class that

would have made you money in 2008. Not a single one.

My 2008 monkey outperformed the entire market.

[mawilson 2,133]

My 2008 monkey outperformed the entire market.

Whatever works for you, man. If the monkey consistently makes you money, go for it.

[ready4ONE 5,400]

My 2008 monkey outperformed the entire market.

Whatever works for you, man. If the monkey consistently makes you money, go for it.

Or perhaps the market is not as scientific, nor market experts as infallible as one might hope?

[mawilson 2,133]

My 2008 monkey outperformed the entire market.

Whatever works for you, man. If the monkey consistently makes you money, go for it.

Or perhaps the market is not as scientific, nor market experts as infallible as one might hope?

This is news to you?

[Scott & Lai 12]

But SS was never intended to be sufficient to live on, nor should it be.

Yep, just as on the other end of one's work life, minimum wage isn't supposed to be a "living wage" on which one supports their family indefinitely.

[NickD 203]

Ironically, our PBS radio had a program this morning on the criminals of the great depression era, or should we say, the hero's of that era. Apparently it is okay for the banks to steal money from the people, but not for the people to steal from the banks. FDR changed much of that, but seems like we have returned to that era.

The guest speaker also mentioned, most of the deaths were caused by the newly formed FBI not only shooting each other, but innocent bystanders as well, but they also got away with it.

Best way to become a crook today is to attend Yale or Harvard, get a law degree, and run for office. If you do get caught, just resign, that is considered sufficient punishment.