Tuesday, August 09, 2011

Volume 3 Issue 31: Intelligent Investing

In Times Like These

Today is a public holiday in Singapore. Yet, the Wall Street Journal reports the following:
Singapore Metals Traders Work Through Holiday 
Some Singapore-based metals traders are working on the city-state's National Day holiday because of the extreme volatility in the base and precious metals markets and turbulent trading conditions.
While most Singapore-based market participants are off for the day, one trader says he's "not supposed to be working, but the markets have deigned otherwise." A second Singapore-based trader is off until the afternoon, when he says he will return to trade as London opens for business.
Even those traders who are taking time off say they are checking in on prices to keep up with the fast-moving market, which has been heavily sold the last three days. Three-month copper is down 2.6% at $8,549.75 a metric ton, while gold is up 1.54% at $1,743.70/oz.
This is simply a clear example of time waits for no one. In times like these, in times of crisis, time really waits for no one. Many of us dream of having time off from work etc. but the fact of the matter is, some work just cannot wait for you. The markets are plunging like nobody's business and if you were to take today off from work and not watch the TV or read the newspaper at all today, chances are, you could wake up tomorrow with a 5-10% loss in your investments.

In times like these, it really is time to get to work. Who knows, we may even be out of jobs soon.

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