Buddhists believe that there is no future and no past. There is only now. But, if time is in perpetual motion how can there be now?
Anyway, humans and our continual search for meaning ultimately leave us disappointed and always hungry for more. That’s why Buddhists focus on clearing our minds of the clutter insisting on staying in the here and now.
Investors would be wise, regardless of your religious beliefs, injecting a little Buddhism into your portfolio management style, as doing so can make a huge difference during times of trials and tribulations.
And, boy are we experiencing trials and tribulations in the current market environment.
What Would Buddha Buy?
I wonder what Buddha would do if having to make investment decisions today?Well, Buddha isn’t here obviously, but there is a viable stand- in. His name is Richard Band, editor of Profitable Investing, and he has an uncanny ability to ignore the noise in the market. Instead, he stays focused on what is really important, including his wife, kids and grandchild.
In that way the clutter in his mind is eliminated, and he is able to resist the temptation to trade his portfolio. Weaker minds succumb to the nonsense, and sell or buy at exactly the wrong time.
So what would Richard be doing today? For one, he would not be selling his stocks just because we are experiencing a little bump in the road. Going further, he would identify some great bargains that he would be buying when others are selling. One such stock is…
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…Washington Mutual (WM). Oh, I know the rap on WM. The mortgage crisis is not over. There is more blood in the street. The $7 billion in new capital will not save the day and blah, blah blah.
Clear the Clutter
You see there is a lot to clutter your mind with respect to WM, and none of that clutter will do you any good. Instead clear your mind and let the possibilities of the now work their magic. What we know now is what really matters.
With WM, what we know is pretty positive in my opinion. At the top of the list is the capital infusion. The bottom line is if they thought they needed more they would have raised more.In my opinion the bottom in this unprecedented mortgage mess is near. If not near, then it is pretty darn close. Most of the write-offs have been taken, and a new cycle of borrowing and buying is at hand.
What about the recession? What about it I say? Many are predicting that this recession will be quite shallow. Heck if you blink you might miss it. That is why I say to keep the clutter out. It does absolutely no good to worry about something that you cannot control.
Our economy is quite diverse, and it has been proven time and time again that the best time to buy is at the bottom when pessimism is at a peak. Well, both Richard Band and I believe that pessimism is at a peak, and we both say jump on the Washington Mutual bandwagon.
Buddha would be quite clear in his message to us. Buy Washington Mutual and let go of that other nonsense that is filling your mind! It is indeed time to let go!
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