Posted by Larry Doyle on February 21st, 2009 9:10 AM |
Football fans know that ball control and time management are two very critical factors in determining outcome. While a coach may at times “go deep” in order to catch the opponent off guard, victory is determined by the hard work in the trenches and grinding out first downs. I know of no team that has ever established a winning discipline by “throwing Hail Mary’s.” The same can be said of investing. In the midst of these challenging markets, do not lose sight of your long range goals and the disciplines necessary to achieve them. Leave the “Hail Mary’s” for the gridiron entertainment.
The Wall Street Journal provides us with an excellent piece on this topic:
Desperate investors do desperate things.
A few months ago, most people were too terrified to do much more than wring their hands while sitting on them. But now, as the stock market takes another bullet every day and the yields on cash dwindle away, some investors seem to be flinging caution to the winds.
You can read the rest of the article at your leisure. Enjoy your weekend. – LD –
As Stock Losses Loom, Don’t Throw a ‘Hail Mary’
by Jason Zweig
illustration by Heath Hinegardner
The Wall Street Journal; February 20, 2009
Posted by Larry Doyle on February 12th, 2009 7:34 PM |
While our country has had high profile cheats such as Bernie Madoff, Barry Bonds, and the crowd from Enron amongst MANY others, we have other cheats permeating our lives every day. Tim Geithner offered that “he screwed up” on his taxes and Alex Rodriguez claimed that he was young and naive from 2001-2003 when he took steroids. In my opinion, I believe both of these individuals are representative of a society that has become far too lax in tolerating a lack of decency and integrity. This is not good business!!
In the midst of the current economic turmoil, we all want to look for individuals, groups, parties, and/or industries that are culpable and direct our indignation towards them. While we may gain some sort of short term gratification, are we changing the nature of the dialogue and in turn the course of our country? I think not.
The opportunity for the “silent majority” within the American public to voice their opinion, promote real core values of decency and accountability, and “lead” our country has never been greater. (more…)