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Pastimes : John Dessauer's Investors World
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To: lknapp who wrote (1661)10/8/1998 3:40:00 PM
From: Ralph C. Cinque   of 2346
 
Good point about Joseph Kennedy, A.Lurker. But who really cares about making money at a time like this? I would have settled for getting advice that just would have enabled me to keep my losses to a minimum, to preserve most of what I had. What I have figured out (about myself anyway) is that it is more important to avoid losses in the stock market than to achieve gains. The pain from the losses is greater, proportionately, than the satisfaction from the gains. When you lose money that you've earned, that you've worked for, through labor, you know that you have lost something. But when you fail to make gains, well it's disappointing, but, at least you haven't lost anything, and the fruit of your own labor is still intact. Dessauer led us broadside into catastrophe kind of like Pickett did to his brigade during the Civil War.
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