The markets have been in a foul mood again. Perfect. There’s only one decision you need to make: “Are you an investor or a trader?” advises Keith Fitz-Gerald, editor of 5 With Fitz.
Most people think you can be both – until a series of down days forces the issue and they find out the hard way that they’re not who they think they are. To be clear, there’s plenty of opportunity on both paths.
Just not at the same time.
- If you’re a trader, what’s happening right now is your Super Bowl. You should be celebrating the craziness and making money hand over fist.
- If you’re an investor, the best deals of the year and – dare I say it - potentially the next decade are on the table.
You should also be celebrating the craziness because the real money inevitably gets made when the bears come out to play. It’s just not apparent until much later when whatever crisis du jour has faded into the rear-view mirror.
My point of view is simple. If you are not investing while the chips are down, you will not be ahead of the game when they're up. Courage isn’t free, but neither are the biggest wins.
So...which one are you?
