January 30, 2009 | Posted by Vitaliy Katsenelson

Putin – the New Capitalistic Pig?

“True, the state’s increased role in times of crisis is a natural reaction to market setbacks. Instead of streamlining market mechanisms, some are tempted to expand state economic intervention to the greatest possible extent. The concentration of surplus assets in the hands of the state is a negative aspect of anti-crisis measures in virtually every nation. … We are convinced that those who will create attractive conditions for global investment already now and will be able to preserve and strengthen sources of strategically meaningful resources will become leaders of the restoration of the global economy.” – Vladimir Putin’s January 2009 speech in Davos

I found myself in a very awkward state when I read this. Though I agree with Mr. Putin, how can I argue with this flawless rhetoric? But I found it very ironic, Putin criticizing government intervention and discussing creation “attractive conditions for global investment” is like Muammar Gaddafi (or Bin Laden) criticizing terrorism.

Short URL: http://ContrarianEdge.com/?p=884

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The chart says a lot, doesn’t it? Appreciate the reminder.
David Hodge

What about Gaddafi calling for the “United States of Africa”???
http://www.clousfamily.com Scott Clous

Yes, I agree, Putin’s comments are classic.

I liked how you touched on a number of areas, bull/bear/flat, etc. as well as the very last thing, the 4 or 5 methods to approach things, and as in this blog post, clearly, the risk of Politics…. so sadly ingnored by US investors who enjoy only a every 4 or 8 year period of mass insanity… and it’s generally bloodless.

As I read the chart, and your book, please define the “range” we are in?

As to the range, are we talking from 2000, or ? I’ve finished reading your book, and again, my limited understanding — seems like you discount the Great Depression, 1929-1934(ish) as being a guide or normal. Ken Fisher does the same thing, so you are in good company.

As a contrarian & an investor, I’d still like to see successful investments — greater than the market returns, etc. and didn’t feel like I got examples from your book 2006/2007 — perhaps on purpose — that I could be buying now.

The biggest thing I have realized was I did the right thing in selling, for a profit, for reasons that made sense. After 9/11, I bought a mutual fund [today I'd buy an ETF] in Aerospace (thinking likely would go up after the military orders came out, planning from day one to sell it about 2 years later, or when it was profitable enough. It had dropped after the news, and I held it for two years, until it doubled, and I moved it into real estate, selling that, etc.

As you point out in your book, the human emotion side of the house however, can really grab one.

Passive indexing is sold (was sold) as easy, “safe,” etc. but practically, with 401k, etc. there are few other games in the house for the typical person.

How you you measure your success?

Putin – the New Capitalistic Pig?

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