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Strategies & Market Trends : John Pitera's Market Laboratory
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To: John Pitera who wrote (3552)3/23/2001 4:40:44 PM
From: MulhollandDrive  Read Replies (1) of 33421
 
I wonder how many times that story has been multiplied over...

Absolutely appalling.

But John, it really amazes me that a couple with so much self determination (as it takes to begin and successfully run a business) would hand their result of their life work to the opinion of a securities "analyst".

The article doesn't really specify whether this couple was relying on their stockbroker or their investments were "self-directed" and simply following the herd. Each investor is asked to supply their analysis as to their "risk tolerance". Did these people ever ask themselves what their reaction would be if they (gasp) lost money?

It is simple, common sense to me, but it continues to amaze that people are willing to concentrate their life savings into what they have to realize are speculative investments.

Everyone should have a diversified portfolio, any by that I mean cash, equities, fixed instruments, and maybe some real estate. Nobody goes into an investment looking to lose money, but they damn well better recognize the potential is there and take precautionary measures to preserve capital should they be wrong.

I have heard personally about similar situations, defies logic, but then again, greed and fear usually do.
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