A Sit-Down With James Dondero to Discuss the World of Stock Options and the Market Overall
James Dondero is someone who has made a living out of helping people with their stock options. He has helped on a corporate level. He has helped people who are out there making a normal everyday living.
“Personally, I feel that people need to take their ever day lifestyle into account. Too many people looking to get into the stock market tend to skate over their lifestyle choices. They tend to overemphasize other areas and not pay much attention to this”.
“What sort of risk are you looking to take? This is one of the first questions I ask clients. Some are okay with taking a big risk. Others want to stay low key about their choices. Each client needs to take this into consideration. Those who are more conservative are not going to do well with an aggressive market. They will freak out and run. Same goes for those who like aggressive markets. Staying low key and conservative is going to be boring for them”.
James then went on to discuss the concept of emotions and how they should stay out of stock market deals.
“Let me say this. Emotions should be checked at the door anytime a person wants to play the stock market. This goes for both simple and complex transactions. Emotions can play nasty tricks on a person. They can make you feel as though you are making a good choice. Emotions tend to manipulate us. We buy into these tricks all the time. Think of the scene in Star Wars when Yoda tells Anakin to not let his emotions betray him. It is the same logic and principle. Then, Anakin goes ahead and does it anyway. Clients end up doing the same thing. It is very telling”.
“As long as clients are open to what I have to tell them and want honesty, we will get along fine”.