Read? Sometimes, it's wise to be fearful when others are fearful
Uncle8888 has went through a few market cycles in the last 20 years. He understands the truth behind "Warren Buffett's be greedy when others are fearful"
The truth is ...
Can you afford to be greedy when others are fearful?
Past three market crashes :
1. Sep 11 2001 WTC Attack,
2. SARS 2003
3. GFC 2008/2009
For the first two market crashes; Uncle8888 didn't feel that fearful.
But, for GFC 2008/2009, it was bloody different!
It was when Greedy --> Fearful --> Panic
Read? Market Cycles of What???
Why he felt so fearful and then panic by end Nov 2008?
When he realized he couldn't afford to be greedy; so he became so fearful! Simple mind flip! LOL!
1. Fear of losing his job!
2. In 2008, when every other day, he read bad news and prediction of Great Depression 2.0 coming. It could last more 10 years! His thought of Ah Boi and Ah Ger going to university in August 2009 getting him more worries. Where is the money?
But, this time is different!
For the next market crash; he believe he can afford to be greedy.
1. No more fear of losing his job as he is retrenchment proof now!
2. No more financial burden of supporting his children university education.
3. His war chest is rotting so badly!