Today, I sold 100% of my equity and mutual fund positions. Many stocks were held for 10 years, but they are now all liquidated. We shall see if this was the right move.
2008-02-06 Update: I guess that I got lucky, as the market dropped 3+% on Tuesday, right after I sold everything. Not that I should be counted on to make stock predictions, but my guess is that the market will bump down another 10+%. Then, I MAY consider purchasing equities, but I will likely start to make investments through hedge funds in future growth markets overseas.
In my un-expert opinion, a pending Microsoft/Yahoo deal (should it not be withdrawn) will cause a gradual drop in the Google share price by 10+%, which will further be misread by the larger market as a “softening” of online advertising. This will create a ripple effect in all tech stocks, which will pull down the market generally.
It all depends on your timeframe. If you’re a long-term investor, you made a mistake. What will cause you to get back in? Do you have a crystal ball?
Based upon market moves overseas this morning (Asia & Europe hit Wednesday earlier than NY, like any other day).
What are you, Phsychic?
Give it a few days, but be ready to buy up properties, or stocks as those who will panic liquidate assets.
The future is still bright, but there may be a few ‘rainy days’ between now & then…
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