today's trades, page-23

Nice post, I tend to agree. In my own particular case/opinion is that it is *all* about timing, but major timing that takes patience.

Too long to explain here but I learned the hard way that all chartist stuff was meaningless when, for the first time in my life, while living in Japan, I put US$100,000 into US stocks as in the very long term they had always gone up.

I was in IT and it seemed a no brainer that the Internet would be huge and I was at the point where Henry Ford had just started to make mass produced cars.

I bought Apple.com, Amazon, eBay, Overture (bought by Yahoo)
Drugstore.com and a few more that represented the Internet.

It was 3 or 6 months later when 9/11 happened, I had no experience, they were saying WWIII was starting, and on the Monday morning I was stopped out losing 40% of everything I had.

None of the chartists gave me an exit point, nobody was warned by some Fibonucci sign!!

Today I would have used it as a huge buying opportunity. I would have bought more of those above and Apple alone would have made me $10M

Everyone has 20/20 hindsight. In utter shock and humiliation I started to read all the financial newsletters like The Daily Reckoning dailyreckoning.com etc.

I liked the idea that "even in a war Gold goes up".
And even I understood that if you print tons of US$ it devalues the ones already printed. I believed/studied the "Fiat money trap" and so bought 90% Gold stocks and some physical when it was US$420. This has made me everything back from 9/11 and done quite well, bought real estate etc. However, all I had to do was hold on to my initial "no brainer" Internet stocks for gains of ten times my money.

I also looked at the 2008 crash as a buying opp and that has made me much more again. Much more than ever being fully in the market.

The lesson here is this : you have a lot in cash and you wait patiently. When a 9/11 happens you buy, coz there is blood in the streets. It is a fail safe way to riches, if you have the discipline.


2008 the market has dropped worldwide (see http://globaleconomicanalysis.blogspot.com/2009/01/peter-schiff-was-wrong.html ) you are a big buyer coz bloodshed.

The lesson I got was you buy after big crashes and sell in euphoria. You also pick the trend you think will happen, put your money on that outcome, and have patience.

Easier said than done my friends!

IE
PS I am soooo long FML as I got a good tip at about 0.02c bought a lot until they owe me 0.045c but am assured they are going to 0.12c a beyond all the way to the $1. I trust and like my pal but after the TI results are in, I will re-think. However I still feel they will shine, my only regret is telling close friends (only when asked) that FML were still good at 0.09c, they are well underwater and I can't even explain why!