Quote:
Originally Posted by Paq
diversification..deeeefinitely the way to go. It's just such a hard market to buy and hold right now..
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I've always been in several sector at once, even when it's was measured in hundreds of dollars for me. After my friend, who BTW I told was bat shit crazy, put all he had into Enron (PG&E employee) I've been damn near OCD about it. Anymore it doesn't seem to matter what you're in it's likely going down. I did move a little into a fund that was heavily weighted in gaming (casinos et el) and some into a CD. So far that CD has out done everything and I'm sure you know it's isn't paying much... but it is paying.
Personally in this market buy and hold is the only move I'm comfortable with. I'm 45, have an income and I don't see needing my IRA or 401K for 15-20 years. While it's hard to see shit like 38% of those disappear over the course of a few weeks. I think bailing now would simply lock in those losses. I got time, it'll come back... or it won't and we're all screwed together. I made it through 87 (though in 87 I had slim and none in... much closer to none at the end) and the dot com BS, they came back this will too. This is just way more serious and will take more time.
I personally think it will bounce back, just going to take several years. Isn't that the way it always works? Weeks to loose it, years to make it back. But much like the Stones "Time is On My Side."