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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Smiling Bob who wrote (77834)5/18/2007 7:15:14 PM
From: GraceZRead Replies (1) of 306849
 
Mostly I buy companies not stocks. I try to buy companies whose prospects are improving, I sell companies whose prospects are getting worse. Trying to guess where the stock price will be is infinitely more difficult than trying to figure out where the company will be, at least in the short term.

Guessing where the whole market will go in the near future is like trying to figure out how stupid people can get. I have a friend who is fond of saying "how stupid people can get is unbounded."

Making a public guess on where the market will be in the not too distant future also has a very negative side effect. You start seeing justification for that guess everywhere you look, it imposes a bias when the best thing you can be is flexible. You always have to remain open to the option of being wrong and anything you do that solidifies your thinking is not a good thing.
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