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Free registration at the forum removes this block.The last line of defense amongst the elite is enforced ignorance and the insistence on the complexity and “danger†of financial markets if you wing it without them. They will be quick to tell you horror stories of trading, and how it is equated to gambling and other social ills, and that the proper way to invest is to buy and hold indefinitely (on their recommendations, of course).
What none of these professionals ever tell you is that they are usually the first ones to dump their portfolios the moment the market goes south, yet they insist that you should simply ride it out for the “long run.†Many of them even tell you to invest more as your stocks decline (they call this “averaging down,†which is a suicide play). So went the market in 2000 through 2002, as millions of unwitting public lost billions, all the while being urged to keep on buying---while the professionals were selling their shares. It never occurred to the public, being taught that the proper strategy was to buy and hold, that if the market continued to decline, then someone had to be selling an awful lot of stock. The professionals were doing the selling, the same pied pipers who led the public underwater.
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