I read with trepidation a comment made by a young investor (I assume he/she is young) in a comment box of a blogger that 'he has made enormous amount of money in the stockmarket lately that he found it foolish to work for a living'.
Careful there, mate!
Been there, done that....
It was such a euphoric atmosphere back then at the end of 1993 when no one seemed to be interested to work. The telephone switchbox at the office was jammed up by outgoing calls to the designated line by Telekom to check the price quotes of shares traded at the stock market. Everyone talked about the share market. The fishmonger, the taxi driver...Even Lat came out with a cartoon of a lady about to give birth to her baby, but was still busy on the phone giving instructions to her remisier.
I don't envy anyone, as I too made my first million during that period.
It is said that when everyone talks about how easy it is to pick up cash from the stockmarket, it is the time to get the hell out of there, before it is too late, before you get burnt to ashes together with the rest..
It took only a short Finance Minister at that time to come out with a statement that he bought shares in the stockmarket only for his coffee money, that the whole market came tumbling down from it's peak, in January 1994. It went down and down and made severely worse by the regional financial meltdown in July 1997. Almost everyone lost money. It was a matter of whether you lost some or you lost all, together with your CD handbags and Ferragamo shoes..
Last night Papa asked: where are you now?
mama: I'm on the first step of a runaway train.
papa: why so?
mama: In the event that the train is about to runover a small stone on it's track, I'll be the first to jump out!!!
I'll catch the train again later when it is safer.
papa: stay safe, mama!
mama: we'll do. Pray to God, you ain't gonna see me do a repeat of the folly of 10years ago.
Careful there, mate!
Been there, done that....
It was such a euphoric atmosphere back then at the end of 1993 when no one seemed to be interested to work. The telephone switchbox at the office was jammed up by outgoing calls to the designated line by Telekom to check the price quotes of shares traded at the stock market. Everyone talked about the share market. The fishmonger, the taxi driver...Even Lat came out with a cartoon of a lady about to give birth to her baby, but was still busy on the phone giving instructions to her remisier.
I don't envy anyone, as I too made my first million during that period.
It is said that when everyone talks about how easy it is to pick up cash from the stockmarket, it is the time to get the hell out of there, before it is too late, before you get burnt to ashes together with the rest..
It took only a short Finance Minister at that time to come out with a statement that he bought shares in the stockmarket only for his coffee money, that the whole market came tumbling down from it's peak, in January 1994. It went down and down and made severely worse by the regional financial meltdown in July 1997. Almost everyone lost money. It was a matter of whether you lost some or you lost all, together with your CD handbags and Ferragamo shoes..
Last night Papa asked: where are you now?
mama: I'm on the first step of a runaway train.
papa: why so?
mama: In the event that the train is about to runover a small stone on it's track, I'll be the first to jump out!!!
I'll catch the train again later when it is safer.
papa: stay safe, mama!
mama: we'll do. Pray to God, you ain't gonna see me do a repeat of the folly of 10years ago.
3 comments:
"Foolish to work for a living" I may not even give a think.. why must, if i can get double at the end of the month...
Say hi to Mama Irma, yet to read on ur vacation :).. will it be soon?
Glass slippers,
Don't think can write about the vacation any time soon, too busy counting money! HA,HA,HA.....
Work smart, don't work hard. Speculation has a way of fattening you for the slaughter house.Be careful! glass slippers, there are beautiful but fragile. Watch out!
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