Hanging On Tight
"No market correction should change anyone's investment style," Coscetta says. "It's something you should prepare for and, if you can, dodge."
He says he still believes day trading is a good way to make a profit but emphasizes traders must be prepared to take hits. And he says long-term investing is also still profitable.
Like Coscetta, other Harvard students see the stock market's plunge as simply a small correction.
Helfrich thinks there will be less "irrational exuberance," as Federal Reserve Chairman Alan Greenspan put it, and that the market will return to more "fundamental-based investing."
"In the last couple of years, all the price to earnings ratios have been extremely high. That philosophy just wasn't working," Helfrich says.
Both Helfrich and Coscetta have been investing for over a year, and past experience has prepared them for the pitfalls along the way. But for newer investors such as M. Patrick O'Donnell '03, last Friday's plunge has made them more aware of the potential dangers of investing.
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