Investing 102

[GregWeld]

Originally Posted by Sieg

Now where's the market heading

I looked at my crystal ball --- and based on HISTORY -- UP over time.... but it will go DOWN 15 minutes after you buy in. That is, at least for me, the way it seems to work. But I get even in the end by holding (going long) and smiling while the pay me to wait.

I used to "play" in the market.... big numbers... get up in the morning - buy 4 or 5 stocks - and be out and back to playing on cars by noon. That is GAMBLING and it was only "dumb luck" that had me out of the market during the 1999 "dot.bomb" days or I'd have lost a few bazillion dollars. But - here's the difference - what I was playing with was NOT my only money - My house is paid for - my cars are paid for - so it was "okay" for me to take some dough and gamble like that. In the end -- all I really did was to create a huge tax due bill...

When I look back at that era -- and do the math... I'd have been far, far, ahead if I would have just bought those same stocks I was trading - and held on to them. It was those 'lessons' that made me the "investor" I am today... so in that sense - it was educational!