Its not that I've been hiding because the world's economy is in complete free-fall, companies are going bankrupt...or worse everyday. Its not because of the non-stop election coverage only to be trumped by another record down day on the stock market. Really, I haven't been hiding.
I did however sell all of my positions and was only holding cash. I did this 3 MONTHS AGO. The crashing and burning of the stock market has not affected me, other than not knowing what to do next.
A week ago I decided I needed to meditate on this. The constant blaring of the talking heads on TV telling me the world was coming to and end soon had got on my last nerve...I turned it off. The radio too, you know Sirius has CNBC...you never have to be without!
What better place to meditate than Tibet, so off I went (not really, the fact is I don't think I know how to meditate). The truth is I know there is a way to make money in this market. But even Jim Cramer comes on the TV every night last week with his hands in his pockets, kickin' dirt.
Warren Buffet and Sir John Templeton are/were two of the most respected investors in the world (and also the richest). Both of them said that it was important to take all other influences out of your decision making process...essencially to turn off the doom-and-gloom and figure it out for yourself.
I have come up with my new trading plan. It is a three tiered, five year plan. Now, I'm not going to use just this one post to explain my new strategy. I have written, and am writing a series of articles that explains how I plan on increasing my wealth exponentially over the next five to ten years.
So I feel better. I always do when I have a plan. I'll share it with you all soon. In the mean time, try to look at the current economical situation with optimism, with a keen eye instead of a gullible ear, and you just might feel a bit better. Be sure to subscribe to the Chicken Stocks Blog so you are the first to know when the articles are published!