Making Money Minute with Ron Hiebert - Hope Isn’t A Strategy
Investors as a rule are an optimistic bunch. Most will be able to tell you what they will do if a stock they purchased goes up. They generally have a target price, and plans for the money, once it reaches that goal. Yet very few ever think about the downside. What if the investment doesn’t work out? Why might that happen? What actions need to be taken if the investment does go south? Sell? Buy more? If so - at what price? When a stock tanks, most investors just hang on for the ride, hope things change and it goes back up. Unfortunately, hope isn’t a strategy.
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Making Money Minute with Ron Hiebert - Hope Isn’t A Strategy
Investors as a rule are an optimistic bunch. Most will be able to tell you what they will do if a stock they purchased goes up. They generally have a target price, and plans for the money, once it reaches that goal. Yet very few ever think about the downside. What if the investment doesn’t work out? Why might that happen? What actions need to be taken if the investment does go south? Sell? Buy more? If so - at what price? When a stock tanks, most investors just hang on for the ride, hope things change and it goes back up. Unfortunately, hope isn’t a strategy.
Making Money Minute with Ron Hiebert - Chinese Cars & Tariffs
The reason we put high tariffs on Chinese cars, is they would totally crush our domestic industry if we let them in. For example, BYD, China’s largest vehicle maker, released a car a couple of months ago that cost roughly $19,000 Canadian dollars. This gas electric hybrid is so efficient that it will run 2000 kilometres on a tank of fuel. This makes it the most efficient vehicle in its class by 50%. We have nothing in the west that is comparable on price or efficiency. The only way for us to compete is either with better, cheaper products, or using tariffs to keep them out. It looks like tariffs win.
Making Money Minute with Ron Hiebert
Making Money Minute with Ron Hiebert - Hope Isn’t A Strategy
Investors as a rule are an optimistic bunch. Most will be able to tell you what they will do if a stock they purchased goes up. They generally have a target price, and plans for the money, once it reaches that goal. Yet very few ever think about the downside. What if the investment doesn’t work out? Why might that happen? What actions need to be taken if the investment does go south? Sell? Buy more? If so - at what price? When a stock tanks, most investors just hang on for the ride, hope things change and it goes back up. Unfortunately, hope isn’t a strategy.
