My friend wrote to me the other day asking my view in buying stocks on 08-09-2010.
It happens to be a luckiest day.
According to him such number combination is very rare and normally brings good luck to ones’ investments.
I really got taken back.
What a belief?
No doubt that list of such superstitious beliefs can be long.
Some of them I could gather from my circle of investor friends are given here for everyone’s food for thought or not!
Monday (Black Monday) has always been a nervous day for stock market investors.
The stock market will fall on the day of a lunar eclipse.
One is Jittery about investing on a Friday, the thirteenth.
‘Sell the full moon, and buy the new.’
Catch 8 and avoid 4.
Sell in May and go away.
October is a notorious month for investing.
Best time for the markets is usually from November to April.
Wear green clothes after a price fall (the next day) the market would recover.
Some argued that The Bombay Stock Exchange’s big black bull bronze statue brought bad luck to Indian investors and blamed the black colour of the bull.
I am not arguing here whether it is bad luck to be non superstitious or good luck to be superstitious.
Being superstitious does not definitely mean only avoiding bad luck and trying to gather good luck and blessings as well.
There are thousands of superstitions and beliefs, some of them crazier than others.
It would be impossible to follow all of them, so why bother with any of them?
I always remember a famous quote-“Creditors have better memories than debtors; creditors are a superstitious sect, great observers of set of days and times.”
Do you agree with me that whether Superstition has a real effect on the economy?
The practical (moral) side of the story that I understand is that decide where the finish line is before you start the race. Every trial is a costly error in stock market investments.