# The Great Stock Exchange Secret **URL:** \ **Category:** Miscellaneous and Personal Stuff I Must Share\ **Created:** [June 14, 2000, 7:52am UTC](https://boards.straightdope.com/t/the-great-stock-exchange-secret/22321 "2000-06-14T07:52:30Z")\ **Posts on this page:** 7\ **Page:** 1
**Author:** ![GuanoLad](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/guanolad/32/42_2.png) [@GuanoLad](https://boards.straightdope.com/u/GuanoLad)\ **Post date:** [June 14, 2000, 7:52am UTC](https://boards.straightdope.com/t/the-great-stock-exchange-secret/22321/1 "2000-06-14T07:52:30Z")
Why is it that there are folks out there intently following the stock exchange, buying and selling their own stocks, under the ridiculous assumption that _they know the secret_ (press finger to nose). “Ya see, everyone else buys low, and sells high! But I know the cunning clever secret that they all don’t! You sell _high_ and you buy _low_ and that’s how you make the real big bucks!” Pshah! Like, surely this so called secret is the most stunningly obvious thing in the world, and they’re being taken for a ride if they really believe they have the inside track here? Huh? Huh? Am I right? Huh? Am I? Am I? ---
**Author:** ![billehunt](https://avatars.discourse-cdn.com/v4/letter/b/c37758/32.png) [@billehunt](https://boards.straightdope.com/u/billehunt)\ **Post date:** [June 14, 2000, 8:58am UTC](https://boards.straightdope.com/t/the-great-stock-exchange-secret/22321/2 "2000-06-14T08:58:57Z")
Don’t quite follow. Are you saying that people shouldn’t make decisions about their financial future, because only “professionals” are capable of making those decisions? Or that people shouldn’t invest in the stock market because it’s unpredictable? Or that people shouldn’t invest at all for the same reason? Whatever you’re saying, I disagree. People should have some basic knowledge about risk and time, but beyond that, people doing their own investing is one of the reasons for our extended bull market. I.e. everybody is winning (for now) because everybody is investing. And the fact that we could see a serious correction tomorrow doesn’t make your point (whatever it was) any more valid. As I said, people should have some basic understanding of risk and time, and there’s plenty of that advice out there. ---
**Author:** ![GuanoLad](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/guanolad/32/42_2.png) [@GuanoLad](https://boards.straightdope.com/u/GuanoLad)\ **Post date:** [June 14, 2000, 9:52am UTC](https://boards.straightdope.com/t/the-great-stock-exchange-secret/22321/3 "2000-06-14T09:52:28Z")
Wow, are you waaaaaay off my point. I know people who invest in the stock market. They are under the impression that buying low and selling high is some best kept secret that they have ingeniously figured out and are one of the very few who are privy to this genius plan. They are fooling themselves. EVERYONE knows that so called secret, it’s not a secret at all, it’s what everybody does! What else _would_ you do? But, why do you think, do these people persist in thinking that they have a unique idea at their fingertips? ---
**Author:** ![GuanoLad](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/guanolad/32/42_2.png) [@GuanoLad](https://boards.straightdope.com/u/GuanoLad)\ **Post date:** [June 14, 2000, 9:54am UTC](https://boards.straightdope.com/t/the-great-stock-exchange-secret/22321/4 "2000-06-14T09:54:28Z")
Oh damn, I see why you were confused - I buggered my OP up. Well, serves me right for posting so late in the day. ---
**Author:** ![RealityChuck](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/realitychuck/32/195_2.png) [@RealityChuck](https://boards.straightdope.com/u/RealityChuck)\ **Post date:** [June 14, 2000, 1:03pm UTC](https://boards.straightdope.com/t/the-great-stock-exchange-secret/22321/5 "2000-06-14T13:03:20Z")
> [@](#): > > But, why do you think, do these people persist in thinking that they have a unique idea at their fingertips? I doubt anyone thinks “buy low, sell high” is a unique idea or a secret. The unique idea is “buy X and you’ll be _able_ to sell high.” X is a variable, depending on the investor, a stock that they “know” will appreciate madly. ---
**Author:** ![Myron\_Van\_Horowitzski](https://avatars.discourse-cdn.com/v4/letter/m/9de053/32.png) [@Myron\_Van\_Horowitzski](https://boards.straightdope.com/u/Myron_Van_Horowitzski)\ **Post date:** [June 14, 2000, 6:13pm UTC](https://boards.straightdope.com/t/the-great-stock-exchange-secret/22321/6 "2000-06-14T18:13:21Z")
And anyway, “buy low/sell high”, while it _could_ make you a fortune, seldom works, mostly you lose your shirt. Didn’t I read somewhere where 90% of day traders lose 100% of their money? The best way to invest is to buy low, and then keep it for twenty years. ---
**Author:** ![GuanoLad](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/guanolad/32/42_2.png) [@GuanoLad](https://boards.straightdope.com/u/GuanoLad)\ **Post date:** [June 14, 2000, 11:13pm UTC](https://boards.straightdope.com/t/the-great-stock-exchange-secret/22321/7 "2000-06-14T23:13:20Z")
> [@](#): > > I doubt anyone thinks “buy low, sell high” is a unique idea or a secret They do! That’s the unbelievable thing, they really do.