falling markets are a falling knife!
It is so funny that when markets are rising, everybody asks you to buy, and when it is falling everybody asks you to sell! One commentator who unabashedly acused another big investor of “luring” the poor investor into the market (when the index was 7000), then changed his mind to predict 25000, then changed his mind to say “this country cannot even make roads” is now on a campaign to say “markets will hit below 12000” and a lot of value buying opportunities will emerge. His luck is nobody records his comments!
So the most important thing to do now is change the channel and start watching Animal planet. I “watch” biz channels (let me call them ticker channels – cause that is the only thing is accurate? ). Nice to see young, pretty guys and gals making a fool of themselves – the TV is on mute, so it is enjoyable. If the sound was on, it would be harmful to my portfolio.
One channel did a “poll” and concluded that 40% of the brokers wanted to buy now – 60% wanted to sell or so he said. Did they even ask “did not know” as an option? I do not know. And what was the size of the poll? 10 brokers!! I did a sms poll amongst my friends – 22 of them and got a different answer! God bless the pollsters and the people who believe them.
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Ravinder Makhaik
Working for a small time pink paper attracted me to investing as well as keeping track of things on biz channels.
The ‘feel rich’ euphoria they create is amazing.
Dumping the novice retail investor is really the flip side, not often heard about.
To get your knowledge to a level where you can distinguish sane advice from committing harakari requires more than gray cells.
And sure no matter what a biz channel advocates, it is still coming out of an idiot box – so beware.
The channels bread and butter does not lie in your investing or disinvesting — it makes a kill by the number of advertising slots it is able to sell.