I have had enough of the irrational depression.
Good call, John! I hear you! :-)
John, have you ever been to a casino? I have been to several, but only to eat. (After looking at the mathematics of gambling, I quickly reached the inescapable conclusion that winning without cheating is statistically impossible, so I abstained.) Anyway, the wild atmosphere in a casino is beyond belief. Money is flying around like crazy, and everyone is losing their shirts. It's chaos and bedlam all rolled up into one, but the drive to "get rich quick" radiates from the eyes of the masses as though they were possessed.
My point? With the advent of online investing, I believe that we have experienced a massive influx of people with the same mindset as those "casino gamblers" I just described. These people truly believe they can double their money on a weekly basis. If it doesn't happen, they bail and move on to their next "sure thing." I am convinced this mentality is enhancing market volatility, and the effect is increasing. The big winners in this new climate are the online brokers, NASDAQ market makers, and long term holders. The daytraders, with few exceptions, will fall by the wayside. I view MSFT as a 5 star mutual fund, designed to grow and prosper. I deposit money in my "MSFT mutual fund" on a regular basis, with the trusting faith it will grow. Are ye with me?
Any thoughts?
Regards,
John |
