Quote:
Originally Posted by Snake Doctor
The problem with this was when everyone was buying real estate, it was also a bad time to buy stocks.
|
Why would you say that? You still had 30% of gains ahead of you from the date of this thread. Obviously you would have stayed in stocks until everyone got greedy - which was precisely and obviously on October 8th,2007. ;-)
But seriously, I think it's a great rule to be fearful when others are greedy and greedy when others are fearful. It's just a generality. It doesn't tell you when others are greedy or fearful or how to measure it but I live by it in the following way. When the market goes down I get excited and buy. When it goes down further i get more excited and buy. When it gets absolutely destroyed I am the happiest person in the world. Deals! When the market starts to rise I get sad that the bargains are starting to disappear. When it rises further I miss the good old days of cheap stocks. When everyone everywhere is talking about stocks I get interested in something else entirely.