“Buy when everyone else is selling and hold until everyone else is buying. That’s not just a catchy slogan. It’s the very essence of successful investing.”
-J. Paul Getty
This philosophy plays very heavily on human psychology. We don’t react very well to bad news. We get flustered, make rash decisions, and typically make mistakes. In the stock market, the point where everyone is selling a particular kind of stock typically means it’s going for cheap, Getty says to buy at this point. However an important point to note is the waiting afterwards. Don’t turn around and sell instantaneously, be patient, wait until the opportune moment. The thought is that in the stock market, as well as in life, we need to keep a cool head. And just like the stock market, life may crash, but it’s always going to bounce back. Keep your chin up, and a level head until it does!
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