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Is the money ever really lost?
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<blockquote data-quote="WalnutCrest" data-source="post: 1381852" data-attributes="member: 21715"><p>If the prices are down, you've lost money ... but that's not the end of the world. If you doubt me, ask your banker if your borrowing ability is changed as a result of the lower prices. Ask your estate attorney if it affects that plan. Ask your insurance agent if it affects that amount of insurance you need. </p><p></p><p>Realizing losses on an emotional level (and in a productive way) -- even if they've not yet been realized in the act of buying and selling just yet -- is more important than about anything else in business. </p><p></p><p>In this current time with bad prices, a partner of mine and I are marketing cull cows as ground beef ... and we're getting prices above break even (after deducting butchering costs and travel). That wasn't the plan but he and I know we have to be diligent and creative, especially when prices are falling. </p><p></p><p>Sometimes the hardest work you can do when the pressure is on is to come up with a new idea that's also a good idea.</p></blockquote><p></p>
[QUOTE="WalnutCrest, post: 1381852, member: 21715"] If the prices are down, you've lost money ... but that's not the end of the world. If you doubt me, ask your banker if your borrowing ability is changed as a result of the lower prices. Ask your estate attorney if it affects that plan. Ask your insurance agent if it affects that amount of insurance you need. Realizing losses on an emotional level (and in a productive way) -- even if they've not yet been realized in the act of buying and selling just yet -- is more important than about anything else in business. In this current time with bad prices, a partner of mine and I are marketing cull cows as ground beef ... and we're getting prices above break even (after deducting butchering costs and travel). That wasn't the plan but he and I know we have to be diligent and creative, especially when prices are falling. Sometimes the hardest work you can do when the pressure is on is to come up with a new idea that's also a good idea. [/QUOTE]
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Is the money ever really lost?
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