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Originally Posted by Peaches
I didn't mortgage myself for the stock market, but I certainly lost 10's of thousands of dollars in it.  And I went to private school.  |
Everybody took a beating when the market crashed. That's just the way it works.
However, just like in 1929 the people jumping out of windows after the crash are the ones who were buying on margin and ended up losing more than they had to begin with.
Same thing with the people who are jumping on the real estate bandwagon, taking out interest only adjustable rate loans and thinking they'll flip the property in 1-2 years for a 50% return. Just plain dumb.
If you're going to invest in ANYTHING it needs to be for the long term. If you really think you can make ridiculous returns in a very short period of time because you're "smarter" than everyone else, you may as well just put all your money into a pyramid scheme.