Spending a whole day watching stock indices, you get the same feeling as riding a roller coaster. It is always breathtaking whether you are going up or down. On the way up you begin to feel uncertainty creeping in. 'This cant go on forever', you think. Mr. Central Banker in the front car is already saying hes worried, and the analyst beside you agrees. Just before the peak, you begin to feel the momentum subside. Somewhere behind you hear a worrying rattle, and for a moment everything stops. Your analyst is silent and looks pale. One the way down your head cant stand the drop, and the wheels seem to be coming off the car. Catastrophe seems imminent the scale of which has never been seen before. Your stomach is turning. A prophet is sitting behind you screaming how capitalism and the market economy have come to the end of their road. You open the local business paper, which tells of the roller coaster ride under the heading Index may hit 11 000 what then? The indexs crazy black line runs across the paper from the start of the year to the current month. The future is uncertain. A number of experts predict the next turn, while a professor gives his own opinion. Beneath, a number of pedestrians are quoted on how a closing of 11 000 will affect their lives. Luckily, the ride on the roller coaster is not mandatory. Those who dont need the added tension in their lives can skip a turn or two. You invest only in quality companies at appropriate intervals. You keep your investment horizons open and enjoy the view from the average height of the ride. In a few years you have probably seen enough rises and falls. They no longer disturb your sleep. Prices change, but they always seem to develop positively over the years and good companies even pay dividends. To the prophets and analysts you wish success, as you yourself are not riding the roller coaster. If you want to cash in, you can always sell those shares you bought long ago for next to nothing. Are you getting the most out of the stock market? Maybe not, but at least you are sleeping better and living in peace. |
