I was at a party recently and was introduced to an orthopedist. After a few minutes of chitchat, I mentioned the pain in my lower back and asked whether he'd take a look and tell me what to do. Later that evening, I ran into a lawyer I know and told him about the dispute I'm having with my neighbor. I asked him whether I should sue and on what grounds. Toward the end of the night, I was introduced to a mechanic. I described the "chugg chugg bang" sound my car has been making and asked him to come outside and take a look. I'm joking. I didn't do any of those things. I'm not that guy. In fact, I'm friendly with one of my doctors, and when I see him outside of his office, I never even ask him how work is going so as to not come off as if I want to talk to him about my health. Yet probably once a week, I'll be asked at a party, in a text from a friend or in a tweet (you can follow me on Twitter at @stocksnboxing) what stock someone should buy. If I feel like being a wisenheimer (as my eighth-grade math teacher used to say), I'll just tell them to put all of their money into GameStop (NYSE: GME) or AMC Entertainment Holdings (NYSE: AMC), making sure they know I'm kidding, of course, usually after a minute or two of silence. I understand why they're asking. Because of what I do, people think I have winning lottery tickets rattling around my brain that they could cash in if I'd only share them. And I do have some great stocks - stocks that have the potential to soar in short periods of time - in my noggin that I share with my readers. But these types of investments are for investors who can afford to speculate. They understand risk, and if the stock doesn't work out, it's not going to affect their lifestyle. Folks who plead with me for one or two names that are going to make them rich quick often don't have the ability to handle the risk that comes with speculation. Fortunately for those people, I do, in fact, have a winning lottery ticket - though they'll have to be patient to cash it in. There are few guarantees when it comes to investing, but investing for the long term in quality companies is pretty close to a sure thing. |
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Keep a civil tongue.