The Preacherman says, "My advice to you is to get yourself a gun and learn how to shoot." The Gunman says, "My advice to you is to get yourself a Bible and learn how to pray."

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Wednesday, January 23, 2008

Entry for January 23, 2008


The stock market is on a wild ride, and the direction so far is mostly down down down. There may be a crowd of early retirees heading toward a quick jump off a tall bridge. I won’t be joining them. It would be bad karma for me to pretend that I was prescient when I went mostly to cash and bonds just before I retired. It was simple dumb luck; I was busy with too many issues to watch the market so I had to be conservative. During some of the earlier market gains, I was somewhat envious of those fully invested in equities, but everyone knows that markets will take a dive eventually. WOW, what a dive! What little I had in stocks went down the toilet, the junk bonds were hurt a little, but cash always remains cash. A quick glance at the tally sheet shows that overall I am only down 2% since November. That is not bad performance for a dumb guy with nothing but dumb luck. There is something to be said for the most basic of investment advice, "buy low and sell high."

Where do I go from here? For now, I am sitting tight. If this market continues churning downward, I may dollar cost average some cash into equities. If the market looks like it is near a hard bottom, I may get aggressive and put half of the portfolio’s value into equities. Whatever moves I make, I will always count on dumb luck to be my guiding light.

Thanks for the visit. My wish is that your investments will add to your blessings.


James A. Zachary Jr.

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