$1.00 invested in the S&P 500 in 1966 would have returned $11.71 by 2001 or so, but if you avoided the 5 worst days, it would be a whopping $987.12 . . . or if you missed the 5 best days, it would only be worth 15 cents. Frequently the best days happen after the worst days.
IF THERE IS ANY ONE PIECE OF ADVICE I CAN GIVE TO THE BOARD TODAY, IT IS THIS-
we have seen a mini-correction and it may or may not continue, but if you properly alloted cash in your portfolio, the upcoming week or following week just may be the time to buy equities. It has become a traders market in the short term, but long term just may be absolutely fantastic if someone was starting a brand new portfolio this week.
However, that being said, the volatility in this market is almost unprecendented so there may be more surprises coming to the downside because what is most concerning to me is the sense of relief that the Fed is injecting into the mortgage markets. It is a false sense of relief since the Feds response has been nothing more than a band-aid on an amputation... the blood is still flowing out of the MBS and IMHO, this can continue to drag the markets into 52 wk lows.
And let it be that way... let the Fed stay at arms length. I dont want any bailouts for the wallstreeters who suck up 10k bottles of wine on my dime.
Good luck.
IF THERE IS ANY ONE PIECE OF ADVICE I CAN GIVE TO THE BOARD TODAY, IT IS THIS-
we have seen a mini-correction and it may or may not continue, but if you properly alloted cash in your portfolio, the upcoming week or following week just may be the time to buy equities. It has become a traders market in the short term, but long term just may be absolutely fantastic if someone was starting a brand new portfolio this week.
However, that being said, the volatility in this market is almost unprecendented so there may be more surprises coming to the downside because what is most concerning to me is the sense of relief that the Fed is injecting into the mortgage markets. It is a false sense of relief since the Feds response has been nothing more than a band-aid on an amputation... the blood is still flowing out of the MBS and IMHO, this can continue to drag the markets into 52 wk lows.
And let it be that way... let the Fed stay at arms length. I dont want any bailouts for the wallstreeters who suck up 10k bottles of wine on my dime.
Good luck.
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