BLOGGER TEMPLATES AND TWITTER BACKGROUNDS

Monday, September 22, 2008

I'm Not Bailing Out!

I'm not cashing out my 401k, nor am I moving all my money (such as it is) into bonds, or gold or oil. I'm sticking with mutual funds. My thought process (keep in mind, I'm a blethering idiot), is that if you pick funds with a long track record of success (10 or more years of above average performance), there is a great chance they will come out of this current storm intact. And since the market is a bit down, I'm getting more shares for my money. So when the market rebounds, I have more. It's the whole, buy low strategy. The market is not Vegas. It's not about day trading and trying to beat the system. It's about making good choices and building a slow burn. There will be down cycles and there will be up cycles. I'm not ready to bail. Though I do wish the Government would stay out of it. I personally believe the Great Depression would have been "The mildly crappy depression" if FDR had stayed out of it and let the market take it's short, sharp, ugly hit. I fear we're about to make a similar mistake. But since no one in Washington is asking for my opinion.......... Of course, that might actually say something about the value of my opinion!

0 comments: