<This market cares nothing about who is right and who is wrong. >
Actually, in fact, it does. If you see that a company is going to go bankrupt, the stock will go to zero. Period. If you see a company that is going to be fabulously successful, its stock will eventually go up. Over the long haul, equities track underlying fundamentals. In the short haul, it can do all sorts of gyrations, of course.
<What good is it to be "right" and broke? >
Exactly - the trick is not getting bankrupted in the mean time, and trying to minimize the amount of time between establishing the position and having the market move your way.
<As for being dogmatic, where does that get you?...frustrated, angry and upset, limiting your ability to make consistent money. It also prevents you from enjoying the things that truly count; family, friends and life.>
I don't go long in bear markets, and I don't short in bull markets. Period. Is that dogmatic? I don't think so - just logical. Most stocks go the way of the market, and it's simpler not to fight the tide.
BC |
