Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: posthumousone who wrote (14396)	2/26/1998 4:46:00 AM
From: paulmcg0	Read Replies (1) of 94695

[I'm 30 year old engineer] I'm a 33 year old engineer in a similar situation -- no debts and waiting for the market to decline. I know what you mean about people at work being fixated on the latest "hot" stocks and mutual funds, but then again I know fellow engineers who have already had stock losses in the tens of thousands of dollars each, who had tech stocks (bought on margin) that took a dive. Nobody seems to realize that the stock market is a form of gambling. So, let's review a few maxims of gambling: (1) There is no such item as an "absolute sure thing". (2) Understand the rules of the game you are playing -- don't bet money on games you don't understand. (3) Never gamble with money you can't afford to lose. (4) Never gamble with borrowed money (i.e. buying stocks on margin). (5) Cut your losses and walk away if you have to, instead of getting deeper in the hole. Paul McGinnis

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