BY DANIEL AT 15 MAY, 2009, 11:58 PM
Buy quality, go to sleep with quality, and hold quality; you my friend understand the basic principle of investing. When you wake up each day, you will still be owning quality, not s***!
Buy good stocks, and hold until you have reached your goals for that particular stock.
20% off of 8500 is 6800; still higher than the Dow low of 6540 on March 9th.
20% off of 925 is 740, still higher than the S&P 500 low of 670 on March 9th.
I rounded off all the above figures to end in 0’s, so please, don’t anyone call me for being off a point one way or another!
The daily trader 99% end up the loser over time; the people that buy good quality for the purpose of investing, and not gambling, end up reaping the rewards, and winning.
A “true” bull market is not that far off; now is the time to be investing in good quality, and holding on to it till you reach your goal!
Will you take some losses; of course! But, in the process you will, if you are doing things properly, be able to write those losses against gains; gains made by selling good quality stocks at a profit, and harvesting them.
Harvesting = Buying back at a lower price at some time in the future!
I am not going to reveal my net worth or anything personal on the INTERNET; but this much I will tell you - I am quite wealthy!
I have never been a daily trader, I have always been a long term investor; I have reaped the harvest, and all of the rewards of investing smartly, and having patience!
Good luck my friend; you have it down pat - don’t deviate!
Just don’t chase the market; the market, sooner or later, will always come to you, in time!
My father was a great investor; he used to say if you buy s***, you go to bed with s***, and then, you wake up still owning s***!
Do exactly as you have proposed, and in time, you will be a very happy person!
If you want to gamble, go to Vegas!
BEST OF LUCK!