Quote:
Originally Posted by Jesus H Christ
I sure don't, but I do remember reading months back there are millions. As mentioned, I am not the doom and gloom type, thinking people are selling off quickly because there will have to be a QE3 to rally the markets again. So I was thinking going long is always your best bet because where are you going to go?
I took a gamble and went liquid instead and after everything was said and done got dinged 21% in taxes. After looking at my old portfolio this morning and if the markets drop another 7%, I'll be at a push. So if the markets do rally I'll have a better chance at gains by reinvesting and if it does not, then I made the right decision regardless.
Sorry for the ramble, but I fail to see how anyone could stay in this volatile market right now.
Edit. The Nikkei just opened 4.07% down within 10 minutes.......... it's over folks.
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The 21% was my concern as well. Contemplated a partial withdrawl from my SEP yesterday, but the DOW climbed back up today. At the end of the day, I thankfully didn't take much of a ding. Staying with the long term balanced strategy and hoping to ride it out. If the US survives this rough patch, I think we may pull out alright a few years down the road.
In the words of Warren Buffet: Buy when everyone else is fearful and sell when everyone is greedy. This is the essence of successful investing.
