Rav Avigdor Miller on Playing the Stock Market

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Q:
What should we be thinking about when we hear that the stock market has reached an all time high?

A:
Well, you should be thinking that the market prices are very high right now but it’s very possible for them to fall and become very low again. And therefore, it’s nothing new. Many people have been ruined by the stock market. And therefore, I would say to put your money in the bank, in a savings account. And daven. Always be mispallel

And I want to tell you something. One of the most important reasons why the stock market fluctuates is just for that – so that you should call out to Hakodosh Boruch Hu. When it’s high, you should be calling out to Him in gratitude. And when it’s low you should be calling out to Him that it should go up. And if you don’t do that, the whole experience was a waste. Even if you made a lot of money, you wasted a valuable opportunity. And if you lost money, chasv’shalom, but you were forced to daven, then you gained. You gained da’as Hashem, Awareness of Hashem, which is more important than all the money in the world.

Who knows what can happen?! I know a man who has been losing tremendous sums in the stock market. He told me that he lost over three hundred thousand dollars so far in the stock market. So I said to him, “What about stopping maybe?” He said, “No, I’ll get it back. I’ll get it back,” he says. The poor man is still hoping.
TAPE # E-133