“Here’s how to know if you have the makeup to be an investor. How would you handle the following situation? Let’s say you own a Procter & Gamble in your portfolio and the stock price goes down by half. Do you like it better? If it falls in half, do you reinvest dividends? Do you take cash out of savings to buy more? If you have the confidence to do that, then you’re an investor. If you don’t, you’re not an investor, you’re a speculator, and you shouldn’t be in the stock market in the first place.”From Jeffrey Goldberg in this month's Atlantic. Goldberg's panicking and selling at the bottom, giving the article a view of the market from a speculator's perspective. The quotes from Robert Soros are particularly telling (and remind me of my post from last week). I'd recommend Less Antman, and fee-based planners in general, to Jeff.
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