By It is those who can keep a level head in the great times and keep a level head in the challenging times that finish up winners.
Good Morning MOJO,
Man…I had to talk a lot of people off the ledge last week before they jumped from panic and fear. It is so interesting to me how people can’t help but “pile on”. When things are going great they “pile on” and see the glass as not only half full but overflowing…and when things are not going so great, those same people “pile on” and see the glass as not only half empty, but dry as a bone. It is either euphoria and greed or panic and fear. But, it is those who can keep a level head in the great times and keep a level head in the challenging times that finish up winners. It is those who can keep their eye on their longer term goals and not let the crazy short term ups and downs of life get them off track. We cannot let euphoria and greed or panic and fear control us…if we do, we will make bad short term decisions which will sabotage our long term goals. Not just in our finances, but with everything in life.
This past week was a perfect example of that with the stock market…”the world is coming to an end”…GIVE ME A BREAK!!!!!! I have seen this story before (late 1980s, early 1990’s, early 2000’s and now in the late 2000’s)…everyone is selling for no other reason than because everyone else is selling (piling on) and so we are in a vicious cycle of panic and fear. I promise you there are those level headed people sitting on the sidelines watching all of this unfolding before their eyes, licking their chops, just waiting to pounce (and they will soon) when all of those who are driven by panic and fear finish selling/“piling on” creating one of the best buying opportunities in history. And once they do, those level headed people will come in like vultures and make a fortune capitalizing on it. We all have such short term memories…it has happened time and time again in history, but we seem to forget. And every time, it is like this has never happened before…”The world is coming to an end”. “The world is coming to an end” mindset has happened before and it will happen again…just don’t be one of those that “piles on”. One thing I have discovered over the years is when things are going great it is never as good as it seems and when things are not going so great it is never as bad as it seems. The key is not to buy into the drama…don’t get sucked in and “pile on” whether it is a euphoria and greed pile or a panic and fear pile. The key is to keep a level head…it is the difference between winners and losers. It is what makes the great ones great…Michael Jordan, Warren Buffett, Tiger Woods, Bill Gates, Joe Montana. They don’t just “PILE ON” with everyone else…they keep their cool and keep a level head. Don’t “pile on” and be a loser…BE A WINNER!!!!
Check out this attachment…30 years of Time Magazine Covers & The Stock Market From January 1978 to August 2008.
Make it a POWERFUL week…keep a level head….be STRONG…don’t “pile on” and KICK SOME ASS!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
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