My favorite quote from Warren Buffet (and there are tons of them attributed to the legendary investor) goes like this: “Be fearful when others are greedy and greedy only when others are fearful,” and for the first time in years, it's beginning to sink inside my hard little head. Today, when I see the stock market reaching exuberant heights, I feel good – that is, as long as I'm in it – but there's a little voice inside me reminding me that "what goes up must go down..."
Right, this same Taoist philosophy about the cyclical nature of life. Conversely, when everything around us reminds us that “the end is near” I begin to relax. Does that new understanding mean that I'm on the cusp of becoming a wise and successful investor? Not so fast! I'm simply reaching stage one of the process, just becoming fearful when others are greedy. I still have to work on the other side of the equation...
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1 comment:
There is another truism in the stock market: you have not lost until you sell ... but you don't gain either before that. Forget what your portfolio looks like, it is realized profit that counts (btw, I am still holding Yahoos!).
The other thing, the end of the world is NEAR: December 21 2012. That's what the Mayans said (or they just got bored with their calendar and stopped keeping it at that date).
Be cool.
Bill
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