Everyone loves a good sale…
Who doesn’t love saving money?
If the Apple store had a coupon to buy a new iPhone 11 $433 instead of $699, you’d probably order one before the deal expired.
And if the $495 designer shoes you’ve been eying went on sale for $307, you’d buy them before they went back to full price.
It’s not just the electronics and shoe markets… it’s the same with everything. From furniture to food… travel to toys… and cars to clothes… when things go on sale, people buy more.
But there’s one market where almost no one buys more when things go on sale… I’m talking about the stock market. And it behaves different than any other market in the world.
It’s the only place where people scramble to buy more when prices go up… and buy less when prices go down.
But that’s the perfect recipe for losing money. And I’m not the only one who says so,
Warren Buffett – the third richest person in the world – attributes much of his success to being “fearful when others are greedy and greedy when others are fearful.”
It’s a hard thing to do. You need to stay coldly logical and have a strong stomach to buy stocks when prices are tanking. But if you think about tomorrow instead of today, it gets a lot easier.
The long-term trajectory of the stock market is always up. It’s been that way for the entire 203-year history of the U.S. stock market. So if you go into it knowing that stocks will eventually rebound, it’ll be much easier.
Yes, there may be more drops before this is all over. But, in a year or two when stocks are back at all-time highs, you’ll forget all about that short-term pain. And you’ll be very happy that you stepped up to the plate and bought now.
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So, at times like these, when investors are downing antacid tablets like candy, we here at Get Stock Picks keep repeating the advice of a good friend.
And he knows what he’s talking about… He spent nearly two decades on a Wall Street trading desk. That makes him about as “inside” as you can get. So I’ll give him the final words…
“Buy the dips, not the rips.”
[JW1]Link to getstockpicks.com