Pura's Blog

The rush of the public to react to our current economic downturn has dumbfounded me.

I find the severe reaction and market selloff to be based on pure emotion stemming from fear...similarly as the rush to buy housing when everyone thought there was no precipice at the top of the mountain.

Is the market scary - yes.  BUT, it is not like we have not gone down this road before.  The quote, "know from whence you came," is a real truism.

As the real estate market has had historical turndowns, so has the financial sectors of the market. With that stated, we also understand that greed - not just on the part of Wall Street - created an untethered amount of profiteering [or the hope thereof] on all sides: Wall Street, Lenders, Flippers, speculators, builders, RE agents AND consumers. Did I leave anyone out? If so, please fill in the blank.

Anytime greed comes into play, there will be a fall.  Maybe, just maybe, we will learn from this turn around.  As in the story of the tortoise and the hare, we should learn to apply the lesson of slow, controlled and restrained business decisions/dealings.  Principled wealth building is not trying to get to the tape first. Personal financial goals can be reached with measured thought and application - not through emotional impulse.  Running with the pack is never a good idea.

History is not something to be forgotten or shelved, but intended to be used as lessons in navigating through the future more intelligently.  2005-200? is one REALLY big lesson.  I hope it is not lost on us or future generations.

I will leave you with two of my favorites quotes from Mr. Henry Ford:

If money is your hope for independence you will never have it. The only real security that a man will have in this world is a reserve of knowledge, experience, and ability.

Failure is the opportunity to begin again, more intelligently.

Continued success to all.  There are many great opportunities out there. Do not allow fear be your driving force. Knowledge is the greatest investment...using it makes positive things happen.