El Mercado

Ok, so the stock market is making me and everyone else totally dizzy .. as La Yen put it (perfectly) in a tweet today (yes, even Yen has succumb to the peer pressure that is TWITTER), if the stock market were golf she'd be winning! 

But I keep trying to think positively about it. 

Yes, I bought my first share of US Steel @ $73 (which, in my defense was like $10 below it's previous $52wk. low!), and then I bought more for about $65 - because SURELY that would be the bottom, right? WRONG! So, yes now that it's a hair under $40, I have lost a big chunk of my original $73 investment (nevermind the subsequent investments). But I just bought more @ $39 ... not because I will swear on a stack of bibles that this in fact the bottom (with my luck it'll hit $15 tomorrow!), but because in 5 or ten years it'll be back up near $200 and I'll be thrilled - even about the shares I bought @ $73! And, if there is a God (and if he likes Basic Materials stock) I will be doing a jig all the way to the bank!

So, I'm trying to avoid looking at the market value of what I now own .. and focus instead on the number of shares - watching the number of shares go up on sharebuilder makes me much happier than any other statistic available.

My mantra these days (ala Dorothy's clicking heels in the Wizard of Oz) is - SOMEDAY I'LL BE GLAD! 

But, yes ... I am still keeping my fingers crossed about it.

[note: if my US Steel really went down to $15 tomorrow I might actually jump out that proverbial window]


Anonymous said...

And the received wisdom may be found at: http://www.guardian.co.uk/business/2008/oct/17/warren-buffett-shares-markets

Best wishes,

LuluBunny said...

Well, I guess it's true what they say about great minds thinking alike ... yeah, that's right .. me and Warren Buffett ... LOL ;)

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