Convention doesn’t need to be old. In fact the conventions for emails, sms, and twitter are new and they can be very confusing to people who are not accustomed to them. For example, lol can mean “Lots of Love” or more likely “Laugh out Loud”. brb can mean “Be Right Back”. ttyl, omg, and many others are all new acronyms. When these acronyms creep into students’ school work, teachers will need to remind students that these kind of acronyms are not part of acceptable “English”. I believe similar problems are happening to some Chinese students in Hong Kong when they write Chinese composition (中文作文) using sms style Chinese short forms.
By now, you may realize that I have some reservations in blindly following “convention (傳統)” and “conventional wisdom (傳統智慧)”. Let me conclude this post by talking about some investment conventional wisdom. “Buy Low sell High” (低買高賣) is a conventional wisdom that people often say but practice much less often. What happens a lot more is “Buy High sell Higher” (高買更高賣) when the market is in a general “up trend”. In fact, when the market is generally rising, an “investor” can pick a stock randomly and still end up making some money.
But as the recent financial meltdown has shown us, when people were panicking, they sell first and ask question later. Which is why people ended up buying high and selling lower as they dump their stock to get out. Or keeping and stuck with a formerly high price stock (which may not be a totally bad thing, it depends).
As I try to say indirectly in this post (買賣搖錢樹=投資股票的十個理由), investing in stocks is no different from investing in a partial ownership of a company. And when a well run company’s stock price get severely discounted, it may, after careful study and analysis, be a good opportunity to “Buy Low” in hope of “Sell High” in the future some years down the road.
“Buy low” when everyone is scared is easier said then done but like any investment with a healthy return, it takes time and careful study & analysis. While the stock market may still go lower, the business world will get better one day. As a wise investor once put it “be greedy when others are fearful”. And in the last few months, the investment world had been fearful and shocked beyond believe. Wishing you the ability to make wise investment decision and luck. 祝你有慧眼和好運。
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