In article 7c578fcc-ee6c-4603-8131-
,
) says...
"Triggered by the financial crisis the past two months, the hearings
reportedly were meant to stem losses incurred by many workers and
retirees whose 401(k) and IRA balances have been shrinking rapidly."

Doesn't sound so bad anymore does it?

The Sky Is Falling! The Sky Is Falling!

Seriously, it's like those people just fell off the turnip truck.
Didn't they own any stocks or mutual funds in 2001? In the last 30
years, there have been three market downturns where stocks lost 50% of
their peak values. We have another 15% to go until then. I have a
bunch of money sitting in a cash fund, ready to invest when we hit that
mark. When the Dow hits 7060, I'm buying, just like I did in 1982 when
the Dow hit 860.

Meanwhile, only a fool would sell. I suppose it is the same fools who
retired without moving their assets into bonds. The trick with stocks
is to buy low and sell high. You have to do both. That's why I have a
bunch of money sitting in a cash account. I sold when the Dow hit
13,000, and gritted my teeth all the way to 14,000. However, when you
invest, it pays not to get greedy. Trying to squeeze out that last 5%
can cost you a pile. It's the same deal now. Trying to save that last
5% can cost you a bundle also.

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