Thursday, July 16, 2009
Were you buying in February, March, and April?
I must admit that I wasn't. I was scared. I didn't have the cojones to be greedy when others were fearful. I'd been salivating over Goldman Sachs (GS) for months. I even wrote about how I was going to pounce all over it when it went below $140. I got my opportunity, but I didn't go near it when it was trading in the 40s and 50s. Why? Fear. Confusion. I felt that the government wouldn't let it go down, but I wasn't sure the common wouldn't be wiped out. I eyed C when it was around a dollar, but I couldn't pull the trigger on that one either. Or what about Freeport McMoran in the teens? I think that I've learned my lesson, but I won't be sure until the next shakeout.