"When things go Up, Up, Up"----a true story

Back in 1986, I worked for E.F. Hutton....and was just getting comfortable in the job, when I added a client who wanted some growth for his portfolio...and I was grateful to have his business...and so I made a recommendation for a stock for investment, and he invested a couple thousand dollars... About a week went by, and I noticed that due to some unusual news story, the stock had doubled...I was just stunned...and I called the client and he said to sell and take the profit...so I did... Between calls, I asked a senior broker about what to do if the very first trade a client makes doubles...what to do next... She replied that this was a very bad way to begin a financial relationship...because the client thinks that this is the "norm." The problem is what is the next idea that will in any way follow the first idea.... "Things go up and down" she said...."When things go up to the moon, usually they come down just as fast...." I think a lot of her words lately...as markets go up, up, up, and where main street since 2007 has not seemed to make much progress....and thus I just remember her words...and plan accordingly....