My grandfather and his father, (my great grandfather) had money
in the market during the fall of 1929. They took a bath. But luckily was able to come back.. Their last job as CEO for Warners, which was a paving company in St. Louis, Mo. area.
When they reinvested, it was blue chips and bonds, put in a form of a trust fund. A trust fund that lived thru 4 generations.
When I was living with my grandfather for almost a year, in Florida, we had many discussions about stocks and etc. Sadly I didn’t pay much attention to them. It was a generation gap. He was 76 and I was 17. But luckily we got along..
But one thing he did say and that stuck with me for 50+ years.
And it is really true to day as it was in 1958.
If you ever decide to play the stock market… go to the bathroom,
open the toilet lid, and take all of your money and put it in there. Now put your hand on the handle… if you can flush the toilet with out a flinching… then you can play the stock market. Otherwise put your savings in the bank. Or under your mattress.
Some of us don’t have any choice. And can’t you imagine having our SS money in the market now? What an idiot idea that was.
I have thought about Grandy (our name for our grandfather’s in our family) a lot lately and more so on Monday.
5 hours ago