|It's only money I suppose...
Truth be told, I lost some number over 50K in the last 2-3 months. Much of it was in 401K number's 1# and 2#. I kept my stock holdings around 30K, and had big losses in my emerging markets fund (around 9K loses in my real accounts). I plan to hold them, as I think this recession will have a very different effect on them (they will continue to grow, but moderatly).
I've been thinking some option plays may be good here. There is a lot of stuff 'on sale' in the markets. I've taken a lot of money, and put it on the sidelines (even in my 401K #1).
Yes, I think the entire financial system is screwed up , but I still think there is stuff out there worth investing in.
I can say, I had taken a pretty hefty short position awhile back, that would have saved me through all this. I would be selling it right about now if I had held on to it.
I think there is enough panic right now, and negativity, that it's probably time to start buying. I've been calling a low to the S&P at around here... might go a little lower.
What to buy.... stay away from broad based indexes. Quality company, with good overseas exposure. I still think the recession will last longer in the states than it will overseas (after all, we started the whole problem, we are the contagion this time).
Anyhow, it sucks seeing your net worth dive like this, but I must get back on the horse and make some bold moves here. |