Daily Archives: March 10, 2020
All Alone Am I
STOP SELLING!
This is today’s basic economic lesson.
STOP SELLING!
I was on a financial forum the other night and one guy was complaining how much money he had lost on his stocks. When I ask him why he sold his stock as it was going down, he fumbled a bit and said because the market was going down and everyone else was selling.
I said that really it was that everyone was selling, causing the market to go down. I reminded him that he didn’t lose any money until he actually SOLD his stock. Who cares if it went down 20%-30% if he hadn’t sold it.
He reiterated that, well, the market was going down and everyone else was selling. I then asked him, so did he think that the country was finished and the stock market was never going to come back up, even after this flu thing was over?
He said No.
So then I asked him did he need the cash from the stock sale right now?
He said No.
So I again asked him why did he sell when the market was going down?
He never replied to me.
So here’s your Financial Tip of the Day:
STOP SELLING!
You don’t lose money until you actually sell!
As for me, I’m buying stock in Charmin.
Risking Coronavirus and death, I … wait for it … I ate lunch at a CHINESE restaurant this afternoon. So now I’ve decided to self-quarantine myself.
At least until I have to into work tomorrow morning.
Thought For The Day:
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