firelines, Your last paragraph is spot on. Unfortunately, a lot...

firelines,

Your last paragraph is spot on.

Unfortunately, a lot of investors are like sheep ... they feel more confident and follow (after others have investors), which in a lot of cases (not LOM ... at this still early stage) is probably the wrong time (and reason) to invest ... as opposed to venturing ahead and investing when others don't.

A clear example of this is the property market ... 4 years ago the property market was quiet and not many were buying, as opposed to now when the sheep investors / buyers are in a state of frenzy and paying what (4 years ago) was incomprehensible. That's when my last property was purchased.

I have always bought when others are not interested or buying (property obviously being much easier to determine and identify than shares), and simply base my decision on my own "gut feel". For example, I would not touch property at the moment ... until the property market cools down again. Unfortunately, the sheep buyers see everyone else buying at ridiculous prices and somehow think they must do the same as they think the other sheep know something that they don't. Hope I don't offend anyone, by referring to them as sheep ... but venturing ahead of others is what makes a difference. Some can see opportunities and take them and unfortunately, others don't.

Philosophically, the fact that we all think differently is also a good thing ... as it's what creates a market in the first place.

GLTAH,

zippy1