Having been busy with the gold and financial sectors, I had been neglecting the markets in general. But I did notice yesterday that Harman International, over the past 8+ months, has been taken out back and mugged to the bone. $75 to $32.
In business speak, this is the darling child of the high-end audio industry. For those of you who bought this oinker on the good news (i.e., Harman puts Mark-Levinson stereos in every luxury car cabin in the universe), I am truly sorry.
What does this signify for high-end audio, in general? If this is the beginning of a trend (again, the business of sound, not the sound of the sound...), does this mean we will be buying Wilsons for 2 grand? Caliburns for 5 large? Has the shit hit the fan for the industry?
As I posted a few months ago, I have been sidelined since $988 gold (damn. I never catch the top...). Now, opportunity knocks. It is a universally accepted axiom that gold is headed for $650, and that the energy group is headed headed down, with oil a cinch for $80. From experience, I have learned to mistrust universally-accepted axioms. Being hard-headed, I have been buying natural gas stocks (APC, CHK, and UPL) since last week. Being even MORE hard-headed, I have been buying GG, AUY, AEM, GDX, GLD, and SLV since last week.
If you have to borrow money to stay in business, you are in deep shit. Buy low, sell high. Hunker down. Submit your stink bids on all that "Class A" audio candy that you couldn't afford a few months ago. You just may get filled.
Safety and returns that beat inflation? There is no such combination. Speculate or die. But avoid debt. Quasi-safety? Cash, and (at these prices), gold and silver. But mind your choice for a banker -- about 30 new banks went on the FDIC's endangered species list this morning.
Of course, sex, booze, and music, if pursued with a proper intensity, will make all this go away.
Happy tunes.
Having been busy with the gold and financial sectors, I had been neglecting the markets in general. But I did notice yesterday that Harman International, over the past 8+ months, has been taken out back and mugged to the bone. $75 to $32.
In business speak, this is the darling child of the high-end audio industry. For those of you who bought this oinker on the good news (i.e., Harman puts Mark-Levinson stereos in every luxury car cabin in the universe), I am truly sorry.
What does this signify for high-end audio, in general? If this is the beginning of a trend (again, the business of sound, not the sound of the sound...), does this mean we will be buying Wilsons for 2 grand? Caliburns for 5 large? Has the shit hit the fan for the industry?
As I posted a few months ago, I have been sidelined since $988 gold (damn. I never catch the top...). Now, opportunity knocks. It is a universally accepted axiom that gold is headed for $650, and that the energy group is headed headed down, with oil a cinch for $80. From experience, I have learned to mistrust universally-accepted axioms. Being hard-headed, I have been buying natural gas stocks (APC, CHK, and UPL) since last week. Being even MORE hard-headed, I have been buying GG, AUY, AEM, GDX, GLD, and SLV since last week.
If you have to borrow money to stay in business, you are in deep shit. Buy low, sell high. Hunker down. Submit your stink bids on all that "Class A" audio candy that you couldn't afford a few months ago. You just may get filled.
Safety and returns that beat inflation? There is no such combination. Speculate or die. But avoid debt. Quasi-safety? Cash, and (at these prices), gold and silver. But mind your choice for a banker -- about 30 new banks went on the FDIC's endangered species list this morning.
Of course, sex, booze, and music, if pursued with a proper intensity, will make all this go away.
Happy tunes.