Hello fellow money mongers…2008 was a crazy idea for investors and to start 2009 afresh i am no longer a value investor…just sold my copy of Seth Klarman’s book for $1200 on Amazon.com ; good luck to them. With that amount i will be pumping it to my Scottrade account and lets play the market.
I sold all my holdings for last year and claimed the losses for tax purposes but it left me with one discovery; i am a market wussy and risk doesn’t appeal any more. Had holdings in Yahoo, Fannie Mae, Freddie Mac, Sirius and along the way things collapsed..i even had Citi and thought that most of this stocks would rise from the ashes…not a wise idea.
I should have sold earlier and bought in December when things were down. and thats my motto now…go in hard and come out high….i mean stocks are still low but seems the bottom is here. Look at this theory; if you had $1000 on December 16, you would have bought 555 shares of Palm and at the close of the market yesterday your stocks worth was $4500. If you would have bought Citi on March 6, $1000 would have got you 1000 shares and yesterday your shares would have been worth $3,000..oh yes 300% return within 2 weeks. Well i guess nobody thought about taking such a risk..guess everybody was trying to get out and the lucky fools who shorted the stocks were smiling to the bank.
Investing needs guts and courage…you either come up with a solid game plan or you will be crying about having to work for the rest of your life. For me its a new game plan…Will start with the amazon check or should i call it Klarmans money and see where it gets me…sorry Seth…i know the book was rare but hey i need to get my own style. There is nothing like recession proof stocks…i will invest in any company the government is bailing out and also i think its time for international investing. Trying to check a few stocks and will be buying this week and will be writing about it…may 2009 make us wealthy.
