pitdog
Old, bald and grumpy
Investing is a crazy thing. People who are greedy or fearful need to stay in the bank. Greedy people think they're missing out, so they buy at the high and sell when the market corrects. Scared people buy the wrong investment and sell it low because they think they will lose it all. People who stay the course and invest in a tactical and flexible portfolio fair the best.
A couple sayings I live by:
"Don't be like a follower like sheep because sheep get slaughtered - and when they're bleeding in the streets, scoop up the blood with buckets"
"Buy after everyone sells and sell when everyone at the cocktail party is braging about their gains".
Clients who I all but begged to go back into the market back in March of 2009 are now wanting to invest. These are the same folks who always sell low and buy high and never take my advice. It's hard to turn the money down but it's just too painful to see such a poor emotional decision happen on my watch. I told them to go back to their 1% CD.
I'm still in a defensive position these days and I hope I'm dead wrong. Tactical flexible management is a prudent choice IMO.
So, how high do you all think it will go before the next 1000+ point correction? Anyone can guess it right, lets see who's the closest.
I'll say 17,300
Disclaimer: This is in no way a recommendation to buy or sell stocks,bonds or real estate, which have the possibility to lose the principal amount invested. This post is strictly for entertainment and I do not endorse investing or selling stocks, bonds or real estate. My opinions on the market are not backed by any thing other than my best guess, which could be dead wrong. Everything I said in this post is a lie and you will lose everything you own if you follow me... There, that should cover me for liability. :smiley-wnk-yellow:
A couple sayings I live by:
"Don't be like a follower like sheep because sheep get slaughtered - and when they're bleeding in the streets, scoop up the blood with buckets"
"Buy after everyone sells and sell when everyone at the cocktail party is braging about their gains".
Clients who I all but begged to go back into the market back in March of 2009 are now wanting to invest. These are the same folks who always sell low and buy high and never take my advice. It's hard to turn the money down but it's just too painful to see such a poor emotional decision happen on my watch. I told them to go back to their 1% CD.
I'm still in a defensive position these days and I hope I'm dead wrong. Tactical flexible management is a prudent choice IMO.
So, how high do you all think it will go before the next 1000+ point correction? Anyone can guess it right, lets see who's the closest.
I'll say 17,300
Disclaimer: This is in no way a recommendation to buy or sell stocks,bonds or real estate, which have the possibility to lose the principal amount invested. This post is strictly for entertainment and I do not endorse investing or selling stocks, bonds or real estate. My opinions on the market are not backed by any thing other than my best guess, which could be dead wrong. Everything I said in this post is a lie and you will lose everything you own if you follow me... There, that should cover me for liability. :smiley-wnk-yellow: