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Strategies & Market Trends : Heinz Blasnik- Views You Can Use -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (262)	4/19/2003 4:22:21 PM
From: GraceZ	Read Replies (2) \| Respond to of 4913

Plunger is the brightest guy on my board. I'm sorry to hear that. I sure wish I followed his moves. All you had to do was get in and stay in any of those plays and make a killing. >>>And right here let me say one thing: After spending many years in Wall Street and after making and losing millions of dollars I want to tell you this: It never was my thinking that made the big money for me. It always was my sitting. Got that? My sitting tight! It is no trick at all to be right on the market. You always find lots of early bulls in bull markets and early bears in bear markets. I've known many men who were right at exactly the right time, and began buying or selling stocks when prices were at the very level, which should show the greatest profit. And their experience invariably matched mine -- that is, they made no real money out of it. Men who can both be right and sit tight are uncommon. I found it one of the hardest things to learn. But it is only after a stock operator has firmly grasped this that he can make big money. It is literally true that millions come easier to a trader after he knows how to trade than hundreds did in the days of his ignorance. The reason is that a man may see straight and clearly and yet become impatient or doubtful when the market takes its time about doing as he figured it must do. That is why so many men in Wall Street, who are not at all in the sucker class, not even in the third grade, nevertheless lose money. The market does not beat them. They beat themselves, because though they have brains they cannot sit tight. Old Turkey was dead right in doing and saying what he did. He had not only the courage of his convictions but the intelligent patience to sit tight.<<< In the meantime, just where do you see this "wealth creation" coming from at a time of overcapacity, mass exportation of jobs, and all the structural bubbles that are still in place. From where it usually comes from, from work and the desire for money. If the level of debt and credit expansion is unsustainable and we are losing jobs what other than massive bankruptcies are going to cure the problem? Debt is a self correcting problem. What are you saying that people have too much debt to work?