“Scared money does not make money” said Scott Shanle, shortly after the New Orleans Saints outside linebacker who broke up Peyton Manning’s fourth down pass to Reggie Wayne with 44 seconds remaining in the Super Bowl to seal the Saint’s win.
He added “taking risks, that’s been our nature all year.” Taking risks has also been my forte, but in late 2008/ early 2009 my balls-to-the-wall mentality turned may have into protect-the-lead, don’t-lose-the-game. In Sept, Oct, Nov of ‘08 my portfolios lost around 10% a month (I had been down around 10% year-to-date going into Sept).
Clients were panicking, the best stocks were free-falling, and I went conservative mode ala The Colts in Super Bowl when they decided against throwing the ball to try to score again before halftime.
