Tony -- Another old truism in the stock market --- DON'T FIGHT THE FED.
What does that mean? Well --- it means that the FED is in control... and as long as you can make money on it -- who cares what the reason is. Right or wrong really doesn't count. Making money counts. When the FED changes course -- then you don't fight the FED then either -- then you move to what's going to work in a rising interest rate market.
People get all caught up in trying to "pick sides" and decide who's right and who's wrong. What you'll learn is that it doesn't matter who's right and who's wrong -- just concern yourself with making money -- then that will make you right. It makes everything all right!
Those that have been saying the market is too high (for like the last 2 or 3 years) --- and that what the FED is doing is all wrong -- and on and on.... they've been losing money while grousing about their "ideas". To me.... they're wrong -- because they don't get how to make money... they only get how to grouse about what they think is wrong. Eventually if they grouse long enough - they'll be right... but in the meantime -- they've lost their ass. The market is UP 100%..... I don't care if that's right or wrong.... as long as I've been able to profit from it.
Put another way --- people can talk all they want about the "poor people" that have lost their houses due to this entire real estate mess..... and how they shouldn't loose their house - and it's all the banks fault (BS!) etc. ME? I just see an opportunity to buy low -- and sell higher... I might feel sorry for the people having to move etc -- but that won't stop me from striking a deal for the property (I bought a 600K building for 335K from the bank holding the construction loan). Not my fault someone borrowed and the value went down and they couldn't make their payments. I had nothing to do with that. Not my problem. Not my worry. My only concern is to see if the deal can make money for me... cause if I don't buy it - someone else will. Thus my point about - I can grouse about the lousy bank kicking out the owner and taking the building - and NOT buy it.... or I can make an offer and hopefully turn a profit. My job isn't to fight over what's right.... my job is to make money and take care of my family.
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