Monday, 13 October 2008

The hysterical stock market

Forgive me if I'm being a little shortsighted. But isn't this thing over the economy a little hysterical?

Okay, so shares have plummeted - surely, this a time to BUY! What's the sense in waiting until they're high before investing? I know when I was into shares, I desperately wanted them to be low, so I could purchase more and make more money when they rose.

I recall purchasing a large number of share in the company I worked for when we had an earlier minor 'recession', they dropped to 1.92, yet they were a stable company. About six moths later the market recovered and they hit 5.56. I made a tidy profit. My hands were shaking as I told the broker to sell-at-best. When I had the ticket, the price had made 5.67 - more than I'd hoped.

I think the market is driven by nervous brokers who are in it for a quick profit. Take a longer view and you'll still win by purchasing a range of shares.
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