Monday, October 6, 2008

Panic selling proves morons are everywhere

The Globe and Mail headline today says, "Stocks recoup some losses after markets hit by panic selling". Read it here.

This proves that there are far too many people in the stock market who should not be there. This is reminiscent of the early '80s, when panic selling drove prices down because too many people had money they couldn't afford to lose invested in stocks, panicked when prices started to fall, and drove prices farther down with panic selling. They lost their money by their own actions, and the money of others as well.

Just sit on it for a bit. This too shall pass.

I'm starting to think that one should have to take and pass a course on world economics or the free market or even basic investing, before being allowed to buy stocks.

1 comment:

Anonymous said...


It's a good time to buy...