It seems Dan Marino lost millions in a stock investment. It is said "don't put all your eggs in one basket" which I'm not sure he did but his losses, according to the article, could be as high as $14.1 million dollars, leaving him with a little over $800,000 left out of his investment. That is a hugh loss but even so what he is left with is more than I have, by a long shot.
Nonetheless, the stock market has been good to me. Believe it or not, I have done far better in the stock market than I have in real estate. Since my retirement I changed my investments over to a more conservative way of investing and I can tell that the swings in gains and losses has not been so wild. I have lost a thousand dollars a day before and now a big swing may me three or four hundred. Still I have regained all I have withdrawn this year.
This week was the best I have done in a seven day period. My stocks have increase by a little over $1,000.00 this week.
The hardest part was not touching the money when stock prices were plummeting a few years back. Every time I saw a loss I was tempted to get my money and run but I keep telling myself that as the stock prices decreased I was able to buy more stock so that when things turned around I could recover faster than I lost. That turned out to be true. If I had withdrawn my money even at the height of its value I would have less than half of what I have now.
Dan marion and i used the same method. Invest and leave it alone. He lost $14 million and I more than doubled my investment. The difference was he invested it all with one company and I invested in lots of different groups, foreign and domestic.
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