Going Galt – is this the beginning?

I am Dagny

Here’s a fascinating blog. We’re not putting it on our blog roll yet, because we’re not sure how long this financial professional, Ann Barnhardt, will be keeping it active.

She apparently admires and attempts to emulate Dagny Taggart, except for her strong religious bent, which we have no problem with, even though the religion isn’t ours. We’ve found that most religiously observant people are more trustworthy than the unchurched/unsynagogued.

Warning to the squeamish and PC people: this woman has some extremely controversial positions. Even admirers are probably taken aback at some of them. Nevertheless, her fame has skyrocketed and she’s being mentioned on the radio and financial blogs for statements like this:

Posted by Ann Barnhardt – November 17, AD 2011 10:27 AM MST

Dear Clients, Industry Colleagues and Friends of Barnhardt Capital Management,

It is with regret and unflinching moral certainty that I announce that Barnhardt Capital Management has ceased operations. After six years of operating as an independent introducing brokerage, and eight years of employment as a broker before that, I found myself, this morning, for the first time since I was 20 years old, watching the futures and options markets open not as a participant, but as a mere spectator.

The reason for my decision to pull the plug was excruciatingly simple: I could no longer tell my clients that their monies and positions were safe in the futures and options markets – because they are not. And this goes not just for my clients, but for every futures and options account in the United States. The entire system has been utterly destroyed by the MF Global collapse. Given this sad reality, I could not in good conscience take one more step as a commodity broker, soliciting trades that I knew were unsafe or holding funds that I knew to be in jeopardy.

Continue reading at: http://barnhardt.biz/index.cfm, “BCM Has Ceased Operations (Part 1)” and “BCM Has Ceased Operations (Part 2).” Is this the beginning?

Investment lesson: Principals trump economics.


About InvestingforOne

I've been investing in various assets by myself using a discount broker for many years. Over that time, I've developed some theories that others might find useful. Plus, there is more to investing than money. Time, talent, work, friends, family all go into developing a good and satisfactory strategy.
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One Response to Going Galt – is this the beginning?

  1. Pingback: Get back to work! Financial chicanery continues | InvestingforOne

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