Noreen, I agree that the only thing we have to fear is fear itself. But right here on Investor Uprising, I'd like to point out something that always makes ME feel better: reading the work of #Fred Goodman!
His analysis of historical charts and patterns always shows me that not only is change the only constant, but that it actually is possible to get a grip, climb into the driver's seat, and take control of a market that seems to be careening off a cliff.
Fred is the perpetual voice of reason -- we're glad to be able to share his insight.
Just what I needed
driven
8/5/2011 7:04:25 PM
I needed this today. Thanks for the insight, and the gentle kick in the pants.
Resisting panic
Tenacious
8/5/2011 7:16:22 PM
It's easy to panic, but requires a certain level of discipline to remain calm. I think that's why we can induce panic in a crowd so easily, while it's nearly impossible to make a rowdy group collectively calm (unless they commit to being still).
Good insight Tenacious. And Noreen...great post.
Stay calm
BigJim
8/5/2011 11:47:09 PM
It's like people with high blood presure who go to the doctor worring their pressure will be up and of course it always is because they pushed it up. All the smart money will wait a little while longer and then buy and make a killing. As for the "panic, the politicians always creat a "panic" so the masses will not be aware of what the bums are doing.
Re: Stay calm
Broadway
8/6/2011 4:53:57 PM
BigJim, I think the panic now is caused by the fact that the politicians are obviously not even in control enough to manipulate us. Does this mean we as Americans are now more "aware" of what these bums are doing -- or at least have a better intuition that they're screwing us -- I don't know. Or maybe we now are realizing that the politicians aren't the ones we really need to worry about. Who's pulling S&P's strings?
Dark Skies
AskAsa
8/6/2011 7:11:22 PM
There used to be a saying in the creative fields that you weren't really in the profession until you had been fired from at least two jobs you really liked. This phrases was frequently tossed around among writers, artists, actors, journalists.
The underlying truth of it became apparent as we all moved on, took our knocks, moved up.
I think in the end this downturn will produce the same result. Once you've been through some market setbacks, made some - lost some. Watched coveted jobs fade into the ethers, you do get a sense that we will go on. Falling skies? Duck - Cover, pick up whats left and keep moving.
Re: Dark Skies
Phoenix
8/7/2011 8:20:13 AM
It does look and feel like the sky is really falling on our heads this time. But I agree that panicking right now will be the worst possible thing to do. It is time to carefully analyze what is happening and it might even be the time to get hold of some really valuable stock from panic sales. We as human beings are resilient to many things. I don't think we should let something like this crush our spirit. There is a saying every dark cloud has a silver lining. It's time we try to look for that little positive side in the middle of this chaos.
askAsa Good posting. As an investor, I think i have been fired by the market twice, once in 2000, the other time in 2008. In 2000, i was too green and scared. in 2008, i am not scared at all, but i made another mistake - had too little cash reserve, looking hopelessly as golden opportunities went by. This time, i think i am prepared, but only time can tell
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