Black People : The Bulls, the Bears and the Chickens!

Discussion in 'Black People Open Forum' started by oldsoul, Sep 1, 2002.

  1. OldSoul

    OldSoul Permanent Black Man PREMIUM MEMBER

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    from Robert Kiyosaki, author of Rich Dad Poor Dad
    A rough draft excerpt from a book due out in late 2002:
    The Bulls, the Bears and the Chickens!

    Years ago, my rich dad taught me to think beyond positive. He said, "If you want to be successful, you must be able to see the good news in the bad and the bad news in the good." Heeding my rich dad's advice, I could tell there was a market crash coming, and when the stock market crashed in 1987, I saw the good news in all the bad news that the media enjoyed reporting about. After the 1987 crash, many people pulled out of the market and went into hiding. As my rich dad said, "In any market, there are always Bulls, Bears, and Chickens." Soon after the 1987 crash, the chickens definitely out numbered the Bulls and Bears. People thought positively and waited around for the recovery. The problem is, we did not recover and instead the country sunk into a recession. The chickens became depressed and continued to wait around for things to get better. While they waited, Iraq invaded Kuwait and the Gulf War was on. Once the war was over and the troops came home, the recession lingered on and now the chickens cried the blues, or squawked the blues. George Bush was not re-elected even though he won the war, but Bill Clinton was. As the news headlines read after Bush was defeated, "It's the economy stupid." In other words, the chickens did not care about winning the war, they cared about money.
    In 1994, the market finally rebounded and the biggest bull market in world history was on. The chickens, still not sure about things waited. Many waited until around 1998, just to make sure this Bull market was for real. At the peak of the market, the chickens finally came out of the chicken coop and invested like chickens without heads saying such things as, "This time it's different." "This is the new economy." "The internet and technology will make us all rich." In March of 2000, the crest of the biggest financial tidal wave in the history of the world peaked and crashed. Today as I write, chicken feathers are seen everywhere.
    Is 1987 being repeated?
    Yogi Berra's famous quote is, "It's déjà vu all over again." In other words, is 1987 being repeated? Today, there are similarities. In the year 2000, there was a market crash, a recession was on, another George Bush is in office, and now, another war has broken out in the same part of the world. Is it déjà vu all over again? I don't think so. This time this war and this recession are very different. None-the-less, I think the more important questions for all of us are "During this period of turmoil, will you be a Bull, Bear, or Chicken?" The other question is, "Are we going to sit around and wait for things to return to normal?
    No one likes war, except those people who sell arms to both sides. War is a horrible event, especially now that it is being fought on our shores. None-the-less, this is not a time to be a chicken. During the last market crash, the last recession, and the last war, my wife Kim and I studied, invested, and prepared for the next bull market. That is how we got ahead and became financially free in 1994. While we were moving forward, we had other friends who did nothing. Instead, they watched television day in and day out, listening only to the bad news of the war, the recession, and the lay offs. Day and night, they wallowed in the bad news. Instead of preparing for the next boom, they sat around, thinking positive thoughts, and waited for things to return to normal again. When the market finally did change, they were not prepared and missed the biggest market move in the history of the world. When they finally got the message that there was a raging bull market on, and finally did enter the market, they entered too late and were slaughtered. That is the price of being a chicken. In other words, as the bulls turned to bears and were getting out of the market in 1998 and 1999, the chickens were moving in. Please do not let that happen to you.
    As bad as things are, now is the time to be preparing and studying, rather than hiding in chicken coops. With all this bad news today, it is important to do more than just think positively, which is what the chickens are doing, waiting for things to return to normal. Things will never be normal again.
    The attack on the World Trade Center did change the world forever. Even though these are frightening times, now more than ever is the time to see the positive inside the negative, study, learn new skills, and prepare to bravely move forward.
    Though optimistic about the future, I am concerned that this stock market crash, this recession, and this war are different. This time this war is on our shores and this recession could become a depression, if we are not careful.
    History shows that approximately every 75 years, there is a depression. It has been 71 years since the last depression. If there is a depression or a long deep recession, I am afraid that many mutual funds and 401Ks will be in trouble for years and some may never recover, dashing hopes of a comfortable retirement for millions of people. In other words, I doubt that this next economy will rebound as nicely and cleanly as we did in 1994.
    Personally, I am studying and increasing my business and investing skills even more. I too need to be sharper and better prepared in order to move forward. I too cannot rest on my past success or laurels. My financial security is at risk and so is yours. No one has a crystal ball, but we call all to be prepared for whatever happens. Today, we need to be both bulls and bears if we are to be ready for the future. If you are prepared, you will do well financially, even if we do slide into a deep recession or even a depression.
    Today is the time to prepare for the future. A future that will be very different. (More)
    or www.boomspeed.com/eyeque/mindu.html
     
  2. ZeroGravity

    ZeroGravity Well-Known Member MEMBER

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    Interesting Perspective...

    What are your thoughts on this oldsoul?

    I remember the crash of '87...I had just started investing in the market about six months prior...it was a good learning tool for me.
     
  3. OldSoul

    OldSoul Permanent Black Man PREMIUM MEMBER

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  4. Mike Ramey

    Mike Ramey Well-Known Member MEMBER

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    Old Soul: You are ON the money!

    Sad to say that we are heading into a depression! Heard a few days ago that the recession is going to be with us for several YEARS!

    When I was covering the economics beat as a street reporter, it was amazing to me how economic data could be 'skewed'. For example, the unemployment rate does NOT count those who have been out of work for more than a year, NOR does it count those who are underemployed.

    This nation has been losing jobs since 1993, thanks to the stupidity of those in Congress. Those Republicans and Democrats are fidling, while the rest of the world is handing US a bill!

    The best solution is to get out of debt ASAP, along with developing sound economic principles for living. A lot of 'stuff' we DON'T need.

    Living simply is the best remedy for uncertain economic times.

    Mike Ramey
     
  5. Nia Maishani

    Nia Maishani Well-Known Member MEMBER

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    Excellent topic

    I'm with you all on this; I'll be reading the info from the sites cited. Thank you very much oldsoul for the "heads up". Greatly appreciated.
     
  6. Nia Maishani

    Nia Maishani Well-Known Member MEMBER

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    By the way...

    A couple of years ago, a friend loaned me the audio version of "Rich Dad, Poor Dad", and it was quite a valuable source. I didn't however get to listen to it in its entirety. Have plans for nabbing my own copy soon. Thanks again.
     
  7. Nia Maishani

    Nia Maishani Well-Known Member MEMBER

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    ...and one more thing...

    Dr. Ravi Batra is another who has an interesting perspective on the matter. Talks about how to prepare for a recession or depression :eek:
     
  8. $$RICH$$

    $$RICH$$ Lyon King Admin. STAFF

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    hummm!! indeed we r headed in dis direction
     
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