Jeff Saut recently quoted a WSJ article:
Memo to investors: This is what you get paid for.
Volatility. Stomach-churning drops. Watching your paper wealth evaporate.
Stock market profits aren’t free.
Garbage collectors (at least, in non-union towns) know they have to turn up in the morning and pick up people’s trash in order to get paid. Piano teachers know they have to teach piano to pay the rent. Shop keepers have to tend to a shop.
Only investors in the stock market expect to be like the lilies of the field. They toil not, neither do they spin. Could Wall Street just send us the checks every month please?
The reality is that investors have to earn their money, through
brains and nerves. The brains can mean doing smart things – like buying
Apple when it started to turn around. More often they simply not doing
dumb things, like buying Pets.com.
The nerves mean not panicking or getting swayed by fear, at the bottom, or greed, at the top.
I cannot disagree with the concepts expressed here — investing ain’t easy, and once it gets shaky, markets separate the Men from the Boys.
There is much to be said for recognizing the myriad difficulties associated with deploying cash, managing risk, allocating assets and preserving capital.
However, I am rather uncomfortable with that title: Why It’s a Great Time to Be an Investor.
‘Cause it reminds me way too much of the NAR campaign It’s a great time to buy or sell a home!
That was from 2006 — how do did THAT work out?
It’s a great time to buy or sell a home! (November 2006)
Analyzing why "It’s a great time to buy or sell a home!" (November 2006)
Why It’s a Great Time to Be an Investor
WSJ, July 2, 2008 10:38 a.m.