Everyone now wants to be compensated for their investment decisions over the last few years. I do feel sorry for some...they got bad advice, but on the other hand they wouldn't be lining up to hand over the profits which they would have made had the economy gone the "right" way.
Unless you want to put your money under you mattress, or in a GIC or savings account, there is no safe haven. I have lost money too, as have most others I know...and not a little, but a lot. Am I thrilled about it ...no...but do I expect someone to give me back what I lost...well, no again. I understand the risks...so there you go...I just hope I live long enough to see the investments come back.
There are now the hard-luck stories of folk losing millions by investing with B
ernie Madoff. (Please note that I wish I had millions to lose). Well as I said in an earlier blog entry...if it is too good to be true, it probably is. Individuals and seasoned investors were amazed at the returns posted by Madoff's firm and jumped on the band wagon. Greed was the overriding consideration...and let's remember that is one of the deadly sins.
Then yesterday on the news, there was a section where folk who had pre-purchased condo suites in the "up" market ...those which will not be completed for a few years, want to have the developer take the hit on the changed condition of the marketplace...Give me a break...real estate is just like the stock market...if you invest, you hope it goes up, but if it doesn't you take the hit. Do you think if the market would have gone up significantly that these same people would have said to the developer at closing..."Oh why don't you take half of the increased value!"..but on the loss side they don't want to have responsibility.
As you can tell, I am fed up with the whining. If you enter into a bad contract in business, shame on you...live with it. If you make a bad investment decision...shame on you....If you are the victim of a fraudelent activity....it is unfortunate and of course the SEC should be hoisted on tenterhooks for its lack of policing the likes of Madof
f...but on the other-hand it should have been apparent that Madoff's returns were so far off the mark....that he looked like the Golden Goose...and hopefully most of us know that was a fairy tale.
So to all those crying over spilt milk...stop it now...you took the risk and now you pay the piper!
Unless you want to put your money under you mattress, or in a GIC or savings account, there is no safe haven. I have lost money too, as have most others I know...and not a little, but a lot. Am I thrilled about it ...no...but do I expect someone to give me back what I lost...well, no again. I understand the risks...so there you go...I just hope I live long enough to see the investments come back.
There are now the hard-luck stories of folk losing millions by investing with B
ernie Madoff. (Please note that I wish I had millions to lose). Well as I said in an earlier blog entry...if it is too good to be true, it probably is. Individuals and seasoned investors were amazed at the returns posted by Madoff's firm and jumped on the band wagon. Greed was the overriding consideration...and let's remember that is one of the deadly sins.Then yesterday on the news, there was a section where folk who had pre-purchased condo suites in the "up" market ...those which will not be completed for a few years, want to have the developer take the hit on the changed condition of the marketplace...Give me a break...real estate is just like the stock market...if you invest, you hope it goes up, but if it doesn't you take the hit. Do you think if the market would have gone up significantly that these same people would have said to the developer at closing..."Oh why don't you take half of the increased value!"..but on the loss side they don't want to have responsibility.
As you can tell, I am fed up with the whining. If you enter into a bad contract in business, shame on you...live with it. If you make a bad investment decision...shame on you....If you are the victim of a fraudelent activity....it is unfortunate and of course the SEC should be hoisted on tenterhooks for its lack of policing the likes of Madof
f...but on the other-hand it should have been apparent that Madoff's returns were so far off the mark....that he looked like the Golden Goose...and hopefully most of us know that was a fairy tale.So to all those crying over spilt milk...stop it now...you took the risk and now you pay the piper!
