17c monday, page-10

Another good post Agent Cooper

Like two sides of a coin.Now ,all good news is ignored,bad news is magnified.18 months ago, bad news ignored ,good news was magnified.
Having been around watching the market for the last 35 years,though not investing till recently,all stock market crashes, at the time,people said the same thing.

1.this is unlike anything that has happened before
2.this is the big one,the next great depression
3.there is no end in sight,this will go on for a long long time.
The fact is ,NO ONE REALLY KNOWS.

My uncle (yes i know ,the old cliche ,but its true) bought during these times and has become a very rich man,he has watched a third of his wealth disappear,on paper, during this downturn,and you know what he is doing right now? of course, buying more stock!

Mistakes,and he has made a few ,particularly in the beginning, were an opportunity to learn.He never had a margin loan,put his dividends (no reinvestment plans)into stock he wanted,rarely sold stock ,as he bought for the LT,mainly blue chip,and this is very important, he was prepared to wait(no crystal ball).
He lives well and enjoys life to the full and BTW he has stock in BBI.( no ramping intended,just the truth)
Of course,it could be one of those mistakes,but given his track record,i wouldn't bet on it.