If you haven't already done so then you should read Four Pillars of Investing - Bernstein will make you feel happy that your portfolio dropped 50% and wishing it had dropped more. :)
With your investment time horizon (in terms of how long you will live - not just when you will retire) this drop is quite possibly the best thing that could have happened.
Pinyo
· 11 months ago
You scared me. I thought you sold Brip Blap. :-P
Steve
· 11 months ago
@Pinyo: not yet, but I'm open to offers :)
Sam
· 11 months ago
Not to make you feel worse, but if he bought his gold watch at the right time, it could have appreciated in value! 50% stinks, but you'll get it back! I plan on watching the inauguration too, I think it will be exciting.
Milton Griffin
· 11 months ago
Being a child of the 50"s when I ask my dad about the stock market his comment was: If you want to make a small fortune in the stock market start out with a big one. So for the last 47 years I have bought and sold antique cars and trucks as a part time hobby. Full time job was a toolmaker in a machine shop. The profit from the hobby was invested in cd's, and bonds. Their return meant very little to me, because my profit from the hobby averaged 10-40 % return on my investment. And yes today I have the gold watch, and it's a Rolex. So sometimes it pays to think out of the box. I certainly hope you recover what you have lost.
alice
· 11 months ago
You're off to a good start. Market tanked another 300+ points. Worst drop on any inaugauration day. Obama plans on putting in regulations on Wall St. Plan on more dropping and loss of money.
Enjoy your retirement. Obama has a new plan for that also.
Steve
· 11 months ago
@alice: It's not a good sign, that I'll grant you - although I don't think it's directly related, since much of the bad news related to Citigroup poisoned the financial sector today independent of the inauguration. Then again, I could be wrong. We'll see - Obama's got a good shot at being either the best or the worst president we've seen in a century.
deepali
· 11 months ago
i am hopeful that we will see clearer skies ahead. but as obama said in his speech, this isn't just his (and his adminstration's job), it's *our* job. i think we all need to step up and make some positive changes, instead of sitting back and waiting to say "i told you" when the dream pops. i'm disappointed when i see how much value my investments have lost, but what can you do? i never expected i could time the markets. at least i have other things i know i'm doing right (saving, etc).
All Comments
If you haven't already done so then you should read Four Pillars of Investing - Bernstein will make you feel happy that your portfolio dropped 50% and wishing it had dropped more. :)
With your investment time horizon (in terms of how long you will live - not just when you will retire) this drop is quite possibly the best thing that could have happened.
50% stinks, but you'll get it back!
I plan on watching the inauguration too, I think it will be exciting.
Enjoy your retirement. Obama has a new plan for that also.
i'm disappointed when i see how much value my investments have lost, but what can you do? i never expected i could time the markets. at least i have other things i know i'm doing right (saving, etc).