Stock on Stock: What me Worry?

Monday, June 7, 2010

What me Worry?

Those were the infamous words of Alfred E Newman. And for the record yes, I worry every day. you see it is impossible to out smart the markets with timing, intelligence or fraud. At some point the market will and does humble us all. My point is if you invest you have to follow certain long time edicts:

1. Invest not thy whole wad.

2. Always keep some dry powder.

3. Buy on bad news sell on good.

4. You never loose money by taking profits

5. Never make an investment decision based on tax consequences.

6. The best way to get rich quick is to invest for the long term.

7. Buy companies that make or service products you know and love.

8. Diversify, own some stocks, bonds, CD's with some coming due each quarter,

9. Do not get married to a particular investment, when it is time to sell it is time to sell.

10. Get a companion dog, like a labrador, that will love you even if they have to eat dog food.

Most importantly, remember do not make investment decisions based on fear or greed, you will aways be on the loosing side. When you are totally worried that the world is falling apart and you are going to loose everything do not sell. When everyone around you is telling you to buy something like gold, a particular stock etc, smile and just say you will look at it, then sell it if you already own it.

have a great week

Bruce, still waiting to be able to retire

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