"Greed is alright, by the way." -- Ivan Boesky, 1986 commencement speech, Haass School of Business
"Greed is good." -- Gordon Gekko, Wall Street
Don't worry, I'm not about to turn this blog into some type of stock-picking site.
And for full disclosure's sake, my ability to trade (or at least to acquire) is halted until I put on my next set of bars, thanks to some current budgetary restraints (for which I blame neither the Republicans nor the Democrats but, rather, myself for taking on my mortgage in addition to other fixed expenses).
Anyway, I want to return to an old adage I've heard about investing:
"The key to successful investing is to be fearful when others are greedy, and greedy when others are fearful."
It's this type of mentality that distinguishes the greats like Warren Buffett and Peter Lynch.
I know I'm just echoing what I said two entries ago, but fear is now the prevailing emotion in the investment world.
If you have the means to invest, and the guts to do it, now is the time to be greedy. Now is the time to scoop up well-established stocks that have taken huge dives in the past week.
Grab what you can, hang on for a while, and just when the tickers start turning from red to green and those very same people re-enter the market, liquidate your positions for nice gains.