Friday, September 19, 2008

Meltdown has arrived!

hold onto your hats. Market looks to finally be in a real correction mode. Healthy for the long term, always scary at the front. Very happy to have readben Grahams ' the intelligent investor' back a few years ago and have been diverifying away from the stock market since that time to a more balanced portfolio. Makes times like these a bit less nerve racking.

I've gotten messages from a few folks asking opinion and such, I think mostly wanting to commiserate about the situation. I just want to remind myself and anyone else thnking ok g term that the wrong thing to do is get panicked and sell if you have a long term strategy. I recall several studies that showed if you were out of the market for it's best 10 days over the past 10 or so years you lose over half of the gains the market made over that period. I should look the details up later, it's quite significant. It is important to not try to predict when those days will be.

Selling now could get you cut by the same knife twice.

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