<\/p>\n
In the<\/strong><\/span> early 2000s most everybody in the real estate biz was not<\/em> hitting the long ball. But what was better? My late father, who was a stock broker for about six months in the 1950s, taught me the stock market was legalized gambling.\u00a0John Bogle, former chairman of the Vanguard Group, said, \u201cThe investor in America sits at the bottom of the food chain.\u201d\u00a0You have to be lucky twice with stocks: when you buy and<\/em> when you sell. In March 2009 the New York Times <\/em>business-page headline was \u201cAre We There Yet?\u201d\u00a0There<\/em> meant the stock market\u2019s bottom.<\/p>\n In March 2009 the price\/earnings ratio was at its lowest in more than 20 years: 13.\u00a0(Shiller trailing 10-year figure.)\u00a0The worldwide P\/E was even lower, down to 10.\u00a0It was a good time to invest, but scary.<\/p>\n ***<\/p>\n My Uncle Lou and Uncle Al drove a truck, delivering wholesale items to stores.\u00a0They sold me a carton of baseball cards \u2014 24 packs \u2014 at a deep discount. I immediately ripped open all the packs.\u00a0I was 9.\u00a0This investment was my first speculation.\u00a0I got a lot of Humberto Robinsons (a nobody, an Indians relief pitcher) and no Mickey Mantles.\u00a0Maybe my uncles were teaching me dollar-cost averaging: better to buy a pack a week (dollar-cost averaging) than go all in.<\/p>\n Am I<\/strong><\/span> ready to jump into the stock market again? No, I’m not scared enough yet.<\/p>\n","protected":false},"excerpt":{"rendered":" In the early 2000s most everybody in the real estate biz was not hitting the long ball. But what was better? My late father, who was a stock broker for about six months in the 1950s, taught me the stock market was legalized gambling.\u00a0John Bogle, former chairman of the Vanguard Group, said, \u201cThe investor in […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-27529","post","type-post","status-publish","format-standard","hentry","category-miscellaneous"],"_links":{"self":[{"href":"https:\/\/www.yiddishecup.com\/blog\/wp-json\/wp\/v2\/posts\/27529","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.yiddishecup.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.yiddishecup.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.yiddishecup.com\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.yiddishecup.com\/blog\/wp-json\/wp\/v2\/comments?post=27529"}],"version-history":[{"count":4,"href":"https:\/\/www.yiddishecup.com\/blog\/wp-json\/wp\/v2\/posts\/27529\/revisions"}],"predecessor-version":[{"id":27564,"href":"https:\/\/www.yiddishecup.com\/blog\/wp-json\/wp\/v2\/posts\/27529\/revisions\/27564"}],"wp:attachment":[{"href":"https:\/\/www.yiddishecup.com\/blog\/wp-json\/wp\/v2\/media?parent=27529"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.yiddishecup.com\/blog\/wp-json\/wp\/v2\/categories?post=27529"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.yiddishecup.com\/blog\/wp-json\/wp\/v2\/tags?post=27529"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}