Ignore the Headlines!!! Thats no easy thing he says. How can you filter out the medias stuff about the economy, real estate, oil, Iran and now Spitzer. That media hype according to Lynch makes us stay put and not make any purchase. "But," he says, "What are you waiting for."
This is a time when you could be scared enough to panic and do nothing. When the economy is down and prices are down, you need to get tough and be disclpined enough to buy stocks, a home, or gold. The article quotes John D. Rockerfeller, "The time to make money is buy when blood is running in the streets."
Right now is the time, Prices of homes have plummeled. The Fed is dropping interest rates. So, while everyone else is retreating you can stick to the plan and be happy in the years ahead.
Okay, you think the market could keep dropping, but the recession could be half over - may be we have avoided one, you never know.
Lynch says, "Risks always seem most acute when the headlines give you ulcers. But that's exactly when you should think long term-and get off your thumbs."
Comments(0)