Dear JP,
      First, I have different opinion in investment choice between rich people and non rich people. Rich people has much more choice than normal people, all investment has minimum requirement, if you want to buy stock, you maybe need to have dozens of thousand, couples of millions for real estate. If you have more money, not only you have more “bullet” to shoot, but have alternatives to choice “battle field” that you can take advantage of. Rich man likes Buffet has more chance to earn money from market than us.
     Buffet is famous by long-term investment and value investing. (Let me know, if you want to discuss this more)  As a risk-avoider, this is also my investing philosophy. There are some discussions about Buffet investment failure recently, the opinion is Buffet seems be out of gear, he lost patience, triggered the trigger too early, entered market when depression was just begotten.  “新手套高,老手套低”. It’s all about timing! Yes, long-term is always a good excuse. When we experience investment lost, we often convince ourselves that we are long term investors.
Keynes said “in the long run, we all dried”. But sometimes we just can’t stand long enough. When Lehman Brothers, a historic financial giant, can’t survive over 2008, I have less confidence about long-term.
      In current gloomy economy, it’s very easy to lost money in investment. I will wait till 2008Q4 and 2009Q1 financial results are released. Remember? AIG announced their 2008Q4 financial result days again, US$61.7 billion loss! If you were not sure how ugly it will be, be patient , don’t throw your money into water. Besides financial status, we will know dividend yield of each stock in Q3. As interest rate is under 1% now, and stock price was decreased markedly, stocks which dividend yield is above 6% are attractive.
Adonis
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