Make Money Now While Stock Markets Are Down
January 30th, 2009 |People are buying and making money off the stocks.
What I have notice lately with my financial literate friends is there excitement about the stock market.
Yes prices are going down, but they are excited. They have dollar bills in their eyes. All they can think about is quick profits.
A lot of stocks are trading right now at below value. An example of a stock I think that’s trading at below value is Google, who’s trading right now at around $300 a share. They were trading at $600 a share at the beginning of the year.
My friends look at the stocks go up and down everyday. They think to themselves, “I can make a quick buck…”.
I like the idea of buying undervalued stocks right now. You buy low and sell high right? Though let’s not forget the #1 rule of investing. The investment is good when you buy, not when you sell. (From Rich Dad, Retire Young, Retire Rich by Robert Kiyosaki)
If you buy now, the price is low. If the price goes back up, you can sell for a nice profit. But if the price stays low, or get lower. You hold on to the good stocks for a few years and hopefully it would rebound by then.
To be honest I think the likelihood of GE, WalMart or Google going out of business is slim. Although most people probably thought the same with banks at the beginning of this financial crisis.
Nowadays when stocks fall, because of the wide availability of the Internet, anyone can go onto Google or Yahoo Finance and become speculators.
The can then open an account with ShareBuilder or eTrade for as little as $100, and start there stock trading career.
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