Thinking of trading in the stock market as your home-based business. You don’t have to get an advanced degree from the university but it would be wise to educate yourself and not take blind advice from others. Here is a story of one experience that I had.
I can’t stand it anymore. My psychic intuition ability is uncanny. While waiting for my annual dental checkup, I overheard my dentist and the patient before me discussing the stock market. For purposes of anonymity, I’ll call the patient, “Mr. Jones.”
Mr. Jones was dressed like a business man, in his early 50’s and was very adamant about purchasing a particular stock. He insisted to Doc that he not forget to purchase the stock that he had recommended as it would positively make Doc a ton of money fast.
Doc, former Ivy League graduate, seemed genuinely interested so I assumed that Mr. Jones was very knowledgeable.
You know what they say about “assuming.”c, Ivy League educated, seemed genuinely interested so I had assumed Mr. Jones was If you don’t well, something Felix once said in the 70’s television show, The Odd Couple, struck a cord. In effect it went like this, “When you ‘ASSUME’ you make an ‘ASS’ out of ‘U’ and ‘Me’.”
It’s one of those axioms that recur in my head every time I hear the word.
Leaderboard Gazing
I wrote down the stock ticker symbol so that I could purchase some for myself later. After doing a little research myself and listening to my intuition I had to let it slide. Luckily, I forgot about it completely until…
A few months later, I bumped into Doc at the supermarket. Of course, I was coming out of the junk food aisle as is always the case with such impromptu meetings with your dentist but that’s beside the point.
He looked stunned at first when I called out his name but then he blurted out, “I’m sorry, I didn’t recognize you. I feel like crying.” Well that was a little out of the blue and the comment made me a little uncomfortable but I provided my obligatory response of, “Sorry to hear that. What’s wrong?”
I asked him if everything was okay with his family. Well, yes, I did also care about his health, really, but he looked perfectly healthy to me. “Oh, no, we’re all fine,” he managed to let out a small chuckle.
So why was he out of sorts?
“I lost a lot of money on the stock market,” he said. Yes, my highly educated dentist…all that medical school training did not stop him from taking the wrong advice, what I found out later was, advice from…drum roll please…Mr. Jones. Turns out Mr. Jones was a friend with no financial background except that he traded his own stocks on his personal speculation.
I wanted to scream, not because Doc lost his money. I cared but I didn’t care that much. No, I was upset at myself because I didn’t at least give Doc the benefit of my experiences in the stock market sooner.
It was too late for him, this round, but then the guilt set in. I realized that by not letting Doc in on my experiences with the stock market may have lead, in some small part, to his costly laps in judgment.
My mother always said, “Learn from other people’s mistakes.” If you are an Average Joe (Josephine) like me, I hope that the information here will help you learn from other’s mistakes in the stock market so you don’t have to go through them yourself.
I may not have the extensive education and advanced degree of my dentist but my intuition and experience had allowed me to avoid such potentially unfavorable situations once again.
If you’re serious about dabbling in the stock market, you don’t have to get a degree at Stock Market U or be a master psychic but I would recommend that you do educate yourself and make informed (not to be confused with “informant”) decisions before putting the bulk of your savings on stocks.
We all want immediate gratification but wouldn’t it be better to be seen crying because you were so estatic from making a whole-lot-o-money from healthy, educated investment shopping than from developing a great big money-eating cavity from what’s stocked up in the junk food aisle?
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This post was written by admin on September 8, 2008
