Monday, March 9, 2015
NASDAQ 5,000 Again Fifteen Years Later
Fifteen years ago I called up my Merrill Lynch full service broker to tell him to sell Qualcom at $80.00 -- we had bought it for about two bucks. I let him talk me out of it. I eventually sold Qualcom for $40 to $50 a share, and gradually transferred my various accounts to a discount brokerage where I manage investments on behalf of our family free of professional advise or discussion. While we listen to experts on the financial networks and read their articles on the web from time to time, to pull out nuggets of information here and there, we don't do what they tell us to do and we certainly don't waste our money paying them. That recipe doesn't work and it never will. You are much better off learning about markets, paying attention to their shifting sands and calling your own shots. The lodestar principal? Buy low and sell high (yes, do sell). It's not so complicated. Take it from there, I say, and watch your investments take off.