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Vive la liberté! Vive all y'all!
Ante omnia armari
To each of you ... Thanks for stopping by.
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.