Necessity
The best decisions are made under conditions of necessity. Why? Because when it is necessary, you know what to do.
If you will hold off on making an investment decision until it is absolutely necessary, you will have better luck. Necessity dictates your best hand.
Do not make frivolous investments. Only invest in what is absolutely necessary for your survival and well being.
Only sell your investments when the price has become so high that the prospects for the company defy all reason. Then it is necessary to sell.
Or sell because the future for the company is very bleak. But again, only when absolutely necessary.
Sell when it is necessary. Buy when it is necessary. Hold off and wait when it is necessary.
Look back on your life. Your best decisions are the ones you made out of necessity.
©Edward Abbott 2003