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Millionaire Money Habits

September 21st, 2007 at 11:14 pm

When Everyone’s Selling, Start Shopping

Like nature, all investments go through cycles - stocks, real estate, business industries. There are booms, and there are busts. When there are busts, panic in a particular market or industry emerges, and fear overtakes people’s ability to think clearly. Don’t let your emotions distort your wealth accumulation plans. Instead, develop your keen sense to spot the tremendous buying opportunities that are out there.

Legendary investor and CEO of Berkshire Hathaway said it best when he stated, “…be fearful when others are greedy, and greedy only when others are fearful,” when explaining his investment philosophy. Smart investors are patient and wait to take advantage of acquiring valuable assets at steep discounts. They know that in good time the true value of these investments will return to the marketplace. Once that correction occurs, investor and consumer confidence will return and drive prices higher.

Always keep money on the sidelines so you able to take advantage of buying opportunities.

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