To: Pat Garaffa who wrote (28749 ) 2/24/1998 12:55:00 PM From: X Y Zebra Respond to of 41046
>>Unfortunetely Mr Templeton left out one important provision - getting through to the broker! Just once I'de like to be able to dive in and buy when everyone else is dumping provided I can get through on the phone lines or the web site or the fax or email or telegram or carrier pigeon or morse code or smoke signals or ...... << Sir Templeton did not leave anything out, he simply is in the position that "access to market" is an assured detail, we must strive for such privileged position, nothing of course is assured. That is part of the fun in this gigantic chess game, it is part of the strategic planning. After all, it is a competition and no one owes anybody anything, it is up to us to outwit, the opponent, and be there when it is the right time and the right place, it is part of the fun. Not a competition? One goes to market to "make more money", last time I checked, money in the market is made by buying low and selling high, the difference between the two represents money that used to belong to someone else, and I doubt very much that "someone else" willingly would give it to you. Sometimes the $8.00 commission can become a very expensive proposition, as in everything else in life, being a zealot never in the end, pays off, one must strive for balance, perhaps the $8.00 commission should be used during quiet periods, but it would not hurt to establish a good and proper business relationship with another broker who can give us the needed access when it matters most. This is where we can learn from the balance and harmony of nature, where "symbiotic" relationships can indeed pay off handsomely. Who knows, maybe establishing a relationship with the hated Sons of Satan could prove to be beneficial. Trading, investing, and speculating in stocks is nothing more or nothing less but a cold and steely business proposition. "Warm fuzzy emotions" are for you to give and teach to your children and share with your spouse. Then, after the battles, (market is closed), cry, regret, smile, and laugh about the scars and victories, but while in battle, concentration, research, common sense and discipline is what counts. I like Jimmy Rogers approach to investing, "go to the places where there is blood on the streets". One must do one's homework, and if it proves that there will be value once things calm down, then buy, buy with gusto and both hands, remember there is nothing guaranteed, one can be wrong. This is part of the understanding of the risk factor, and its direct relationship to reward. As for Dr. Smith... He is the perfect image of the whiner that asks: "What do I do now, oooh! all mighty stock guru"? shall I buy, sell or hold?, please all-mighty guru, where are you? Dr. Smith cries the above, as the market participants are about to hand his head to him in a silver platter.