I think you have to learn that there's a company behind every stock, and that there's only one real reason why stocks go up. Companies go from doing poorly to doing well or small companies grow to large companies.
You get recessions, you have stock market declines. If you don't understand that's going to happen, then you're not ready, you won't do well in the markets.
Everyone has the brainpower to follow the stock market. If you made it through fifth-grade math, you can do it.
The person that turns over the most rocks wins the game. And that's always been my philosophy.
If you go to Minnesota in January, you should know that it's gonna be cold. You don't panic when the thermometer falls below zero.
The real key to making money in stocks is not to get scared out of them.
So while I was in college I did a little study on the freight industry, the air freight industry. And I looked at this company called Flying Tiger. And I actually put a thousand dollars in it and I remember I thought this air cargo was going to be a thing of the future.
Go for a business that any idiot can run - because sooner or later, any idiot probably is going to run it.
I've found that when the market's going down and you buy funds wisely, at some point in the future you will be happy.
I don't go near the money and the money doesn't go near me.
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.
Although it's easy to forget sometimes, a share is not a lottery ticket... it's part-ownership of a business.
I've found that when the market's going down and you buy funds wisely, at some point in the future you will be happy. You won't get there by reading 'Now is the time to buy.'
But my system for over 30 years has been this: 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.
Suicide is a permanent solution to a temporary problem. Suicide is a choice and I think if we work with that with kids, we'll get somewhere.
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