If I had a nickel for every time in the past couple of months I've heard:
Well, I don't even want to look at my retirement account statement....
I'd be a multi-thousandaire!
But really, how the bleep is *not looking* going to be productive?
These people are the same lazy-@ss Morons who refused to *look* at historical real estate prices.
They refused to *look* at historical interest rates.
They refused to *look* carefully at how much money they'd need to pay the mortgage, their bills, and save for retirement in a future with no Social Security and no pensions.
They refused to *look* hard at the possibility of an interruption in personal income, i.e. a layoff or a pay cut.
And, they refused to *look* critically at the false gospel of mutual funds and *the long run* their financial adviser peddled to them.
By not *looking* at your statements, you are doing precisely what those hucksters at Fidelity want you to do! You're still their willing b*tch!
So, the next person who boasts of their reckless stupidity in front of me....
....is going to get a lecture instead of sympathy!
Yeah, that's too harsh. Sympathy will be offered - for a nickel.
2 comments:
People are so gullible.
I sold all my equity holdings by the 1st week in January, 2008 and made money trading in and out of the market. I'm no genius but I could smell this Bear Market a mile away. Nobody else I know (except for people on the interent) sold any of their crappy stocks or mutual funds. I didn't even suggest anyone do that because I knew they wouldn't listen.
The sheeple all believe that their portfolios will eventually bounce back, and "gamblers like me" who try and time the market will underperform them in the long run. Granted trading IS gambling, and it is stressful, but holding and praying is the worst kind of gambling.
I think the Nikkei 225, which peaked around 1990, proves that stocks can be stuck in a rut for many decades. Life is way too short for "hold and pray" investment strategies.
If I eventually lose money from trading, at least I was fully aware that I was gambling, unlike the sucker who is holding and praying.
We're not gambling.....we're *adding liquidity*!
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