Wednesday, March 13, 2013

The Bubble Is Finally Confirmed?

Petter Northug Jr, the cross-country skiing hero of Norway, has finally shed some light on his plans for life after skiing career:
"It's likely I'm going to study. Most probably something related to real estate, since I think it's fun."
I think the irony lies in the fact that when he is done with the studies, the market might very well offer low prices again, which translates to good investment opportunities - but it's not fun anymore. Good times are fun. Bubbles are fun.

There are some rumors that Northug is investing in Florida real estate with a group of Norwegian investors. At least it's a lot better idea than investing in Oslo real estate, which I hope he has avoided. But even with Florida, I suspect that spotting the bottom of the market is not as easy as it currently seems. A good idea for the long run, surely, but it seems people are expecting quick wins. Charlie Munger of Berkshire Hathaway has said about investing:
"It's not supposed to be easy. Anyone who finds it easy is stupid."

 Fun and easy. As long as it lasts.

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