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Hello Crazy Gang,
Do you know what my biggest fault is in the grand old art of share shifting? Well I bet a load of Crazies share the same failing.
It's not selling when the market is falling. I have always said that it's the ones that lose money which count more than the ones that make it.
But when the market falls - and most of my shares go with it - do I take action? Do I Buckford Abbey!
If I had sold all my stocks at the start of the bad periods, I would be a lot richer today. Because I would have bought them all back when the usual recovery started. That way I would have buckets of extra shares for the same money.
Why don't I take action, then? Well, its a mixture of laziness and hope. I hope the shares will come back straight away and I'm too lazy to sell off the huge number of lines of stock I hold.
But it is best to sell, especially when market sentiment is at a low ebb. And I have no excuses. The market is at a bit of a low at the moment - and there's talk of worse to come. But there's nearly always talk of worse to come - it's the journalist's dark nature.
So I am not selling a lot of shares at the moment. I still think that the banks for instance are grossly oversold and due a big comeback. If I sell today, I might miss the start of the action. And the beginning of a recovery is often the most dramatic.
But I should sell a load of other shares - I really should. Why don't I? Perhaps I'll grasp the nettle - after a quick visit to the Punter's Return. Rock on!
To find out more about Malcolm CLICK HERE
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