Stock Woes & Patience
by Jeremy Browning
Nov. 15, 2008 23:27
I just read a great article about what the old hands on Wall Street are up to in the midst of this tumultuous time.
The article, More Old masters See a Buying Opportunity
by Tim Melvin at TheStreet.com
, recounts advice from Irving Kahn, an investor who's still working at age 102.
He's eyeing the situation calmly, and his son, a 40-year market vet suggests taking a drive to enjoy the fall colors instead of obsessing.
I especially enjoyed the kicker at the end of Melvin's article:
Each generation thinks it invented music, sex and the stock market. None of us did, and at times like this, it pays to check in and see what the graybeards are doing. It appears they are very patiently and carefully buying stocks.