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its typically those that sit on the fence and put off acting because they are afraid the price may go lower that end up being the group that never do well financially.... its sooooo true morningstar actually tracks the small investor and shows how they put off buying when they should buy and buy when they shouldnt be after the big moves.
im a terrible market timer, probley one of the worst... soooooo i never try to out guess the markets... if i went to do a deal or make an investment i look at everything known right up to the minute about what im buying and make the offer..... none of this what if it drops, what if this or that.... i just do it...i get the best deal i can and i do it
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Exactly. Because anything else is overanalyzing and if you have a tendency to overanalyze you will likely continue to sit there and overanalyze forever.
theres a great book written by jason zweig called your money your brain... its indespensible knowledge for any investor.
they put loads of people in brain scans and then had them make financial decisions.... it found our human brains are flawed... we have a tendency to belive our own Moderator cut: nonsense ... as humans the flaw is we hate loosing money more then we like making it.
we feed ourselves all kinds of bull that we belive to be true and paralyze us from doing the right thing...
the right thing is to go whole hog into equites right now, the right thing is to make great deals on distressed properties but that little voice will paralyze most of you as it tells you wait, things are dropping more or dont buy yet its a suckers ralley.. you get the point,,, be very careful or you will sabatouge yourself very easily, its human instinct to buy high and want to sell low in panic
by the way jason is martin zweigs son.. martin was one of the wall street week elves and was famous for pulling his clients out of the market the week before the 87 crash
Last edited by Green Irish Eyes; 03-01-2009 at 02:46 PM..
Reason: Language
Well,one of the other posters on this thread certainly believes he knows exactly how things will play out and it doesn't sound like his beliefs are coming from any kind of experience with the real world.
everyone knows whats coming next ha ha ha.... if anything the last 2 years taught is its how little we can tell the future.... when we broke new stock market highs oct 2007 the sub prime thing wasnt even a blip on the radar....
the thought that as of the close on friday we re-traced 1/2 of all the gains since the bull market took off in the 1980's is mind blowing.... a few like peter schiff saw it coming but no one saw this....
rember : the markets can remain irrational alot longer than you can remain solvent
with all its corrections, crashes and huge drops over time it still grows more money than anything else
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