Posted by: The Rainmaker Date: Thursday, May 08, 2008 1:33:59 PM
In reply to: bud750 who wrote msg# 16124 Post # of 26850
Baron Philippe de Rothschild, ever an opportunist, is said to have advised, “Buy when there’s blood in the streets.” Investors like Warren Buffett do just that all the time.
The point is, you can easily profit from a ghastly investing environment. When everyone else is selling, it may just be the best time for you to step in and pick up a great company for cheap.
Sometimes the blood is your own
But Mark Mobius reported in his book Passport to Profits that there is a second part to Rothschild's quote -- one that is perhaps even more impressive and intellectually inspiring. Buy when there's blood in the streets, "even if the blood is your own."
That means being confident enough in your analysis to buy stocks you already own..
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