[at-l] Sell!!!

[Ken Bennett]

2008/11/20 Jim Bullard <jim.bullard at gmail.com>

> That is what puzzles me too. I think what happens is akin to "It's A
> Wonderful Life" where Mr. Potter is buying up everything at bargain basement
> prices. Those with money they can afford to lose wait until sellers are
> panicing and the price is bottoming out, then buy for pennies on the dollar,
> sort of like a garage sale on stocks. The risk is that the company you buy
> could actually go belly up and you lose if that happens. If you are rich
> enough you spread what you buy among many stocks and when the market finally
> goes back up your gains far outstrip your losses, then you own everything in
> sight and you get to rename the town to Potterville or in your case
> Felixville.



Well, I'm hardly rich enough for that sort of thing. However, I'm just
letting it ride, and keep putting my 403b contributions mostly into stocks.
The idea is that I'm buying (well, TIAA-CREF Is buying) at the lower prices
and we'll make it back when the market moves back up. Might take 15 years or
so, but that's about how long I have anyway.

My father, on the other hand, is trying to retire right now. With a lot less
money than he thought he had. Not good.

--Ken
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