A friend and I were talking about the "downfall" of Wall Street the other day, but instead of bemoaning all the doom and gloom that the media feeds us on an hourly basis (and oh, do these reporters like to remind us every other minute how "bad" the market is!), we agreed that this is actually a time for celebration.
"Stocks are on sale!" my friend exclaimed. "This is the best time to buy stocks!"
I nodded my head in agreement. Yes, this is the best time to make informed decisions because prices are low. It made me think about the different types of investors there are and I came to realize that there are two types of investors:
1) the investor who follows the herd and becomes victim to what is happening on Wall Street and
2) the investor who sees an opportunity no matter what is going on
What type of investor are you?
Now I'm sure some of you are saying, Well, how can I even possibly think about buying stocks when I just lost thousands of dollars this past month? To that I say: You never "lose" anything. Sure, your stock prices may have dropped, but if you think long-term, those stocks are bound to go back up eventually, right? If you did your due diligence and invested in companies that are established, then there really isn't anything to worry about. For instance, I have stock in Google and Apple, so I feel very confident that I'll regain that value back.
What are your thoughts about buying stocks right now?
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