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re: Being "recession proof"
Posted on 7/8/13 at 3:14 pm to JohnnyKilroy
Posted on 7/8/13 at 3:14 pm to JohnnyKilroy
Recessions are a great time to get rich. People are selling
assets at far less than fair value because of fear or in the case of real estate, because they are over leveraged and afford to make the payments. Their fear, or poor financial planning, is your opportunity.
The best time to buy is when there's blood in the streets, even if the blood is your own.
assets at far less than fair value because of fear or in the case of real estate, because they are over leveraged and afford to make the payments. Their fear, or poor financial planning, is your opportunity.
The best time to buy is when there's blood in the streets, even if the blood is your own.
1
Posted on 7/8/13 at 3:25 pm to Vols&Shaft83
quote:Truth.
The best time to buy is when there's blood in the streets, even if the blood is your own.
But human emotion being what it is, buying when everyone else is selling takes some brass 'nads.
When I started buying back in February and early March, 2009 and the market continued to drop for a couple of weeks afterwards, I didn't think I was very smart. I was doing some heavy-duty second guessing of myself.
But, I just kept taking deep breaths and buying more.
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