Pain Heals. Glory Lasts Forever. Chicks Dig Scars.
Sep 30th, 2008 | By Contrarian Profits | Category: Stock Market InvestingFor investors trying to make sense of the markets, Jeff Clark in The Growth Stock Wire has some advice. “Neither fundamental nor technical analysis is working. And investors doubt their faith,” says Jeff. “It’s like finding your spouse in bed with your priest. Two deep-rooted bonds are shattered at once.”
So how do we get through this?
I can only offer you this advice (which Keanu Reeves shared in The Replacements, an otherwise forgettable football move)…
“Pain heals. Glory lasts forever. Chicks dig scars.”
- Pain heals. We’ve been through this before. We survived the stock market crash of 1987 and the sequel in 1989. We endured the Asian currency crisis in the late 1990s and suffered through the Internet meltdown in 2000.
Today feels worse. But it’s not. Investors have weathered all the other financial crises over the years. And we’ll get through this one, too.
- Glory lasts forever. The ability to keep one’s head while all others are losing theirs creates greatness. Warren Buffett earned his fortune by making smart decisions in a bear market. His investment prowess will live on forever in the minds of long-term value investors.
I’m certain that five or 10 years from now, we’ll all look back at some of these debt-free stocks trading at less than eight times earnings, slap ourselves on the forehead, and wonder why we didn’t buy more.
- Chicks dig scars. The battle-tested warrior gets more respect than the rookie just entering boot camp. Traders who’ve been in the trenches for decades have more followers than hedge-fund managers just out of business school.
Experience is valuable. And the best way to get through this storm is to copy what veteran Wall Street sailors are doing. Art Cashin of UBS, who appears frequently on CNBC, qualifies. Carl Icahn and Warren Buffett also fit the bill.
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