Today’s market reminded me of opportunity. In every situation, there is good and bad. With tremendous volatility in the market, and the pain experienced by some investors, one could not be faulted for worrying and imagining the end of the world.
It also got me thinking about how much of a crybaby many people have become. It’s almost as if we need a new government agency that specifically bails people out of their stupid decisions. We all have to learn our lessons – I learned a good investing lesson. In 2002, I bought a stock of a cheese company called “Suprema Specialties.” I didn’t care that debt levels were rising and that accounts receivable were rising as fast as sales (a telltale sign that no collections were being made). So when the company went bankrupt, and I lost my full investment, but I got a ‘valuable lesson!’ (expensive tuition).
Why should we keep others from learning such wonderful lessons? Learning the hard way is either the best way to learn or the best way to remind someone to learn from an expert before venturing on one’s own.
So back to opportunity – when you’re done crying about the value of your house or stocks (sorry buddy, you financed 125% and then took another 25% out to get that 100k kitchen -I don’t feel bad for you at all), look for opportunity. And most importantly, save cash! Opportunities will pop up in time that you will kick yourself for missing if you didn’t have money saved to take advantage of them. Later on, I will post some various opportunities to keep on your idea tickler file… stay tuned…