Paul,
I have been getting 'messages' and posts from others about recent losses in this market - a market that the media hypes as 'booming' when in truth the only ones booming are the Index stocks.
I am down 30% from my high and also questioning my ability. So I ask: Do I trust my own judgement? I'm confident that my current holdings are priced under value (I'm sure you are too). When they return to the levels I bought at, I'll be back where I was and still be holding undervalued stocks (so will you). I guess getting older has given me more patience and tolerance for situations like this.
I'm a novice compared to you and many others on this thread, but I think all will agree that we have a market based on speculation, not fundamentals. (Buy because it's going up, sell because it's going down) The Index stocks are at artificial highs, many small/mini caps selling well undervalue.
You're sitting at a BJ table and the guy next to you is hitting 16s, splitting 10s, doubling into Aces, and he's winning. At the same time you are playing your conservative game and losing. Should you adopt his style of play? The cards are running against us, but this shoe can't last forever. I plan to be in the game for a while as I'm still playing with house money. -g-
FWIW,
Ron
PS - I recently received a message from someone that sold a stock he knew was undervalued, but 'he was uncomfortable about it going down so much'. I was averaging down at the same time he sold. |
