Investing Fortitude
Warren Buffet says: "be fearful when others are greedy and greedy when others are fearful". In addition to this being a rather simplistic credo, as with most significant ideas, it is incredibly hard to implement.
Hard to implement most for the fortitude, for the cast iron lining of the stomach required. There are huge bargains around - there's a home I recently saw that has 25% of it's original price go away. And while that's the outlier, there are significant reductions in price all around. In the stock market, several clear blue chips have had significant value irrationally (per me) eroded away.
The question though, is do you have the stomach to invest today? The hard understanding for me is that in addition to financial acumen, you need to have the cast iron resoluteness to be able to invest. At best, I'm going to be limited to creating a portfolio at Yahoo! Finance with positions that I'd like to make. Now I know that there are many virtual stock exchanges where you can play with virtual money, but I'm too lazy to create another login for them.
In other words, there's a reason why there are only a few Buffets and Ambanis.
Hard to implement most for the fortitude, for the cast iron lining of the stomach required. There are huge bargains around - there's a home I recently saw that has 25% of it's original price go away. And while that's the outlier, there are significant reductions in price all around. In the stock market, several clear blue chips have had significant value irrationally (per me) eroded away.
The question though, is do you have the stomach to invest today? The hard understanding for me is that in addition to financial acumen, you need to have the cast iron resoluteness to be able to invest. At best, I'm going to be limited to creating a portfolio at Yahoo! Finance with positions that I'd like to make. Now I know that there are many virtual stock exchanges where you can play with virtual money, but I'm too lazy to create another login for them.
In other words, there's a reason why there are only a few Buffets and Ambanis.