December 12, 2008, 6:00 am

If I Ever Hear Another Quote From Stephen Jarislowsky, I Shot Myself!

by: The Financial Blogger    Category: Uncategorized
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– Rant Alert –

“I TOLD YOU”. Is there anything more frustrating than make a mistake and having someone behind your back saying “I told you! You should have never do this!”. ARG! I guess it’s even more frustrating when you are losing money and someone is telling “I knew about it”. What if this person was a well-known investor and fund manager? For my US readers, let me introduce Stephen Jarislowsky, one of the most successful Canadian investor.

Some say that he is the “Warren Buffet” of Canadians. It is true that he created an impressive fortune (in billions) by investing wisely throughout the years. He has been a great defender of small investor rights and always ask for more corporate transparency (especially in regards to CEO’s extensive remuneration).

However, it’s been almost 3 years that he is writing and telling everybody around that the end of the bubble is coming. That we will pay a high price for our cupidity. You know what? He finally got right this year!

He is not the only one to tell us that he knew. During my first Ethical aspect of finance MBA class, our teacher said that she was part of a group that “tried” to warn the financial community that something bad was happening. “They told us”.

While I respect very much M. Jarislowsky (I am no where to be close to compete in term of investing knowledge), I still wonder how come his own investing firm; Jarislowsky Fraser is not offering great returns this year?

If he knew 3 years upfront that a huge crash was coming, how come he is getting the hit as any other investing firm of its size and reputation?

FB, everybody is getting hit in a bear market!

Yeah, well why the hell you keep telling everybody that you knew then? What is the point of telling everybody “it’s happening, you will lose money soon!”? The stock market is cyclic. Is it safe to say after three years of bull market that the end is near? I think so. Worst comes to worst, you are wrong for 2 years and the third year you look like Nostradamus!

So here’s my turn; you will make money investing in the market now! I bet you that I will be right within the next four years ;-D If it would be that easy, don’t you think that people who knew should be not or barely affected by the current crisis?

I guess we should have done like Tymothy Sikes and shorting the market like a crazy bear 😀

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Well said.

I’m going to follow your sage advice and invest now 😉

People will make money if they invest now, but I think it will be as little as 12 – 16 months and as long as 24-36 before a “full” recovery. Then it’s back to the roller coaster!!!!