Hi Scotsman, Clan Veale and Clan Meldrum are both in my heritage and one's part of Clan Gordon. Clan Veale's motto is "Buy from the Scared and Sell to Greedy!" I know, because I coined the motto!!
Hey, a double isn't anything to be unhappy about!!!
Yes, it's easier said than done. With market psychology working against you in a down-turn, it's very hard to buy when everyone else is selling. The, in a flash, it comes to me! These folks are SCARED!!! I should be a nice guy and help them through their fears! I'll just buy up some of their inventory and sit on it a while! See what a nice guy I am. Then when there's a "shortage" of shares available, I'll help them out again by supplying them with a few shares - at the proper price!
Not everyone has 40 years of experience to work with when investing. Mr. Phelps' book was written when he was nearly 70. He'd been in and around Wall Street since before the '29 CRASH. He's a die-hard BuyNHold. Some of his examples took as short as about a decade, but others took as much as 40 years to pay out 100:1. Still, if we throw $10,000 at a few winners, well, the results could help smooth some retirement bumps later on!
Have a great weekend,
Tom |
