Between this week and last week it seems as though investors have reached a point of indecision. Last week the markets ended slightly lower and this week they ended slightly higher. Are the markets starting to falter?
To get a clearer picture of where we are headed, I turned to a couple of motivational speakers that helped me in my 1980s quest to obtain my pharmacy degree. Let’s see what they have to say about where we’re headed.
Oops, my apologies. I turned back a little too far in the past, to a speech my father gave me right after I got married.
Let’s jump into the future a little further, when I asked Jones about getting ahead in life. No, not Edward Jones.. Howard Jones.
You know something? Howard was right back then, and he’s probably correct right now. At least that’s what most American consumers seem to think. But, what happens if Howard is wrong this time?
So, I turned to a Scotsman that I knew from my younger years. As we all know, Scotsmen are the most frugal people on earth and know how to effectively manage money. Anyone who eats haggis has got to be frugal!
What did he say to do if Howard’s optimistic forecast is too soon?
Slàinte Gerry, that’s the attitude one needs to succeed! You’re right, but next time may not be soon enough. Bailing out at a negative reversion from the mean may just turn out to be the WRONG thing to do. I’ll continue to buy now while prices are low, and invest for the long term.
Comments 2
Somehow I managed to time my entrance into personal investing in the stock market right at the bottom (crosses fingers). I decided March 2009 looked good based on prevailing trends, and started an online brokerage account for the first time.
Crazily enough, I find myself wishing sometimes that the trough would linger for a while so I have more time to by issues. I’m trying to stick to Ben Graham’s maxims on buying, and I’m worried about my ability to implement those ideas when the time comes that the market starts drifting towards the top of the mean in the future.
Posted 05 May 2009 at 11:31 am ¶Good for you Dave!
I’m worried about my ability to implement those ideas when the time comes that the market starts drifting towards the top of the mean in the future.
Attempting to call a top or bottom is more of an art than science. The trick is not buying at the top and selling at the bottom.
Posted 05 May 2009 at 12:08 pm ¶Post a Comment