Angry & defeated
Friday, May 1, 2009/
It’s easy to say “I told you so” but there’s always different opinions about the state of the economy and the best time to take risks. For example is now a good time to buy leveraged shares? I can take a risk and get a huge reward, I can take a risk and get burnt, or I can sit on my hands for less risk and less reward.
The truth is that risk, debt and leveraging are a two-edged sword. If you take risk at the right time you do well, during a crash you get burnt. A lot of the timing is pure luck and depends on the nature of the crisis and the business you’re in. Last week biotechs were terrible, this week they’re saving the world from pig flu.
To Angry and Defeated – I’m sorry for your loss, I would be very hurt to lose my business after years of building it. Keep working in your industry and building contacts, leverage your knowledge and experience. Do some contract work for your ex-competitors. You’ll get another shot and be bettered prepared next time. Good luck.