12.03.2006

Don't Even Bother

I will admitt that I am not the type of person to wake up late in the day, I am an early bird. One thing I hate about being an early bird is that there's not much to watch early in the morning.But one thing is certain, there is an abundance of informercials promising richest in the stock market. Unfortunately, the majority of these prorams offer quick riches in the stock market and charge thousands of dollars for their products. The informercial will include testimonials of "customers" or paid actors, who didn't know anything about the stock market all of sudden make "x" thousands of dollars in a week. Investing is not that easy. Investing in Wall Street takes time and patience.
The likes of Warren Buffett,Martin Whitman,and Bill Miller to name a few, all think for the long term before establishing a position. The time frame for their positions usually take years and in some cases forever.
"Our favourite holding period is forever."
-Warren Buffett
Patience is important because it might take a while before Wall Street finds what you pocess. For example, maybe you found a stock worth $40 but selling $20, noone knows how long it will take before the value of the stock is realized.
"
When stocks are attractive, you buy them. Sure, they can go lower. I've bought stocks at $12 that went to $2, but then they later went to $30. You just don't know when you can find the bottom"

-Peter Lynch





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