It’s Vegas, Baby (Update)
By Richard Crenian
March 19, 2009
Richard Crenian writes the best of………written in September 08, confirming what we already know, that the stock market is a jungle of hucksters and promoters. In the end our boring and safe strategy went out the window with greed. Finally we speak about my partner Howard is believes still and then that slow and steady wins the race!
You can call Howard anytime in Tucson on his Calgary number at 4036304544.
Read on McDuff!! See below.
September 29, 2008
I have been to Las Vegas, but I don’t gamble. I tried. I lost a hundred dollars and it made me sick. That was about 25 years ago. I couldn’t stand that I had lost the money so foolishly and in about twenty minutes. I worked hard for that hundred dollars and wanted to stretch it to enjoy it. I didn’t. I have not gambled since.
When my friends were investing in the stock markets, and making money in mutuals, I was happy for them. Why they asked didn’t I invest in them?
For me it was easy……. “Vegas, Baby”.
My rule was not to gamble unless it was a sure thing. A sure thing is tangible and I have control. Logic and common sense is how I like to invest, not on emotion.
A hurricane happens, and the oil prices go up. The wind blows the wrong way and a stock goes down. Russia looks at China the wrong way and the stocks go down. The USA has a banking crisis and………….?
Gold up one day, down the next. Currency up one day, down the next.
What happens when you turn 65 and want to cash in your chips? Is something, somewhere in world affecting your ability to draw your hard earn money out? Then what?
If you have the stomach for this, I applaud you.
I refuse to gamble with my future.
Will I have to work till I am 80? It is worrisome.
Me? Stick with my cash flowing products, stay above inflation, worry less and enjoy life more. Let the winds blow from where they may as it doesn’t affect my investment decisions.
When you buddies lament about how their portfolios are not doing well, smile, nod and think, “It’s Vegas, Baby!” And be glad you aren’t there!