Enough of the easy stuff.
The link will take you to an article that explains what happened to Wall Street.
It is very hard reading.
Link
Read it and learn how stupid the people making millions really were... or how crooked...
Hat tip to cravat at the Tennessean.
Thank you! Long read. A bit difficult at times. I printed it, to read again, and offer to my sons. It's simply about GREED. That's what I told my older son who, upon the advise of a 'friend', had invested part of his savings in "so-called safer" higher interest Mutual Funds. Already lost $9,000 of $25,000. Still going down...Luckily it's not all his money, and he is still young.
ReplyDeleteBut the problem is that we're ALL affected. Even old wise people like me! Never took risk but presently I get NOTHING for my renewable investments. And our plain one dollar has lost much of its value.
You would think that after what happened in 1929 (the year I was born) we would have wanted to become educated about money. But no! We're so naive and unsophisticated. We trust gamblers with our money. And we always point the finger at others, never at ourselves when we suffer a loss.
Wish mine would be hidden in a woollen sock like my grandfather did!....
Greed is one of the 7 deadly sins, and probably our most common ones, perhaps even THE most common one.
ReplyDeleteI started leaving the market at about the 12500 mark. Still lost a chunk but better than it could have been.