Don't Fall in Love with You're Stocks(Collect a Free EBOOK - see website)
It appears that I have a dislike for admitting that I could ever get it wrong and this explains why I sometimes can't take a loss. On the other side of the equation: if I was wrong and XYZ was not going to make me a fortune - then what could I do?
Okay I spotted one of my stocks in the "Shares" magazine - I confess! I was just reading about all the up-and-coming stars and there was this little snippet asking a question like: "Could this be a new Microsoft?". Now they may not have said that exactly, but it was enough to make me think XYZ was a good news story as its price will testify - at the time(in the 70's ). I mean it was there - it had to have some merit!
It was a miner and had a technology company in its portfolio and a percentage of another tech company and was doing very little in the resources area because there was more hype in tech shares at the time. It was a time when many miners were turning into tech companies. Can you visualize the miners making their way to the goldfields?
Well I was right into that - so I bought heaps and the crazy part was that I was not going to sell something that had such a great future. Nearly $60 000 went into this company and I've still got it. Not because I am still in love, but because it's nearly worthless. It will be a reminder to me never to do that again!
How much is this RULE really worth to me? That's simple - without counting any other stock in my tech-wrecked portfolio, this RULE is worth $59 494.45 saved.
If I just add one more, an online retailer, which cost me $69 928.20, my total saving would be $129 422.65. So if someone had given me the above rule to live by, I could have sold out early and kept most of $129 000.
The unloved by the market, which included many of my startups have plummeted since the tech boom - some went up like shooting starts, only to be blasted to pieces and fall back to Earth. You won't get directors coming out to say that the market has put an outrageous price on this company or that one, and that really, there is no substance to back up the price. However someone will notice that the king is really naked and when they do there is no mercy from the crowd.
I have heard say, "The market is always right", and maybe it's not a bad one to remember. Those that didn't participate in the tech boom will have lost considerable money and those that fell in love with the naked royalty will have lost their shirts.
Does it hurt? You bet it does! It hurts every day, but it will get better one day - I hope! It was a great experience, even though it was a painful one. Now it is you, the reader, who stands to benefit from my mistakes; which increases the value of such insights and will make this book probably the most treasured book about the market's affect on individuals' psychology and an awesome reminder of the pitfalls of sharemarket speculation.
Do I think that I'm the worst case? NO WAY!! You only have to look back in time to see what companies, underwriters and well-established financial houses paid for software companies and internet security companies - even our beloved Telstra(using the taxpayer's wealth) suffered its billion dollar nightmares, not to mention News Corp's businesses going bust. The bigger they are the harder they have fallen: Enron, Vivendi, Worldcom and others handing over billions as if there was no tomorrow. Well now the penny has well and truly dropped as these huge gorillas fight for their survival under a pile of debt and scandal. Nope...I'm in good company. The scandals and falls since June 2002 have certainly been enough to scare me. We live in hope that we don't end up with a depression and that the losses of up to $US8 trillion at the time of writing, are finally stemmed without bringing the whole financial system to its knees.
Sunday, February 17, 2008
Tuesday, February 12, 2008
JOB
Jobs
Does it seem that with every passing year it’s getting harder and harder to find good paying jobs? If you think so, you’re not alone in your thoughts. In fact, this is a common complaint that many people have and it is even worse for those that do not have a college education.
Jobs are not bountiful right now and even college graduates sometimes find themselves waiting tables for a year or two after they receive their diploma before they are able to
find a job. So, with the work force becoming tougher and tougher to break in to, what are you going to do about it? Give up or fight back?
Well, the best way to ensure you will get hired at great jobs is to attend college. A degree is incredibly important, but it’s not a guarantee for getting a job. Luckily, there
are things you can do while in college to beef up your resume and make you stand out amongst all the other applicants.
First of all, learn a foreign language. Learn two if possible. If you don’t know right now how important this is, you will understand once you’re trying to enter the work force. Many jobs are requiring applicants to speak at least one other language and you won’t want to be turned away
because you don’t. So, sign yourself up for Spanish, Italian or Arabic and become fluent if you want your resume to outshine the others.
Secondly, and I can’t stress enough - apply for internships. If you want to be a writer, find a local magazine and intern there for a few hours every week. Not only will this provide you with invaluable hands on experience but it will also get your foot in the door when you’re applying for
writing jobs. If you’re a marketing major, do an internship at a restaurant that is just opening or work at a local television station if you’re major is broadcasting. Do an internship for as long as you can throughout your college years. Trust me, this will look fantastic on your resume and
will automatically put you ahead of any other applicant that doesn’t have the same experience.
Lastly, get involved in your college and community. You might think that employers don’t look at volunteer activities or hold student government activity with high regard but they often do. Put any extra-curricular activities like this that you’ve done on your resume when you’re looking for jobs. Employers like to know that applicants are well-rounded and volunteering makes you look
like you’re an outstanding member of the community and student government involvement shows that you have the potential to be a great leader.
If you follow these tips, getting good jobs will come much easier for you no matter what the employment rate is when you graduate. So, don’t get discouraged-just make a vow to
become the best version of you possible and feel confident in your abilities and skills. All prospective employers will be impressed with that and who knows- you just might get
your dream job after all!
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