Date registered: Sep 2004
Vehicle: 83 Astral Silver 280 SL
Location: Planet Houston
Mentioned: 0 Post(s)
Quoted: 7 Post(s)
I've been dumping all my "growth" stocks and moving into cash. Despite the recent downturn the market is still high enough to lock profits into cash, so this is actually a good time to sell stuff you have been holding for a year or more. I think now is a good time to build up cash reserves in the event this market totally tanks in the next few months, meaning one can be in a position to pick up some bargains.
...an old saying comes to mind...
"A fool and his money are soon parted."
They are the ones who always buy when the market booms and sell when it busts. Another saying comes to mind...
"Buy high and sell low."
Say, Jayhawk, remember this little exchange a few weeks back? Say dude, if you need a small loan or something to help you buy food, let me know, I've got a few hundred grand laying around in my brokerage account from moving out of stocks into munis, I think I can help you out.
Recall that earlier generations faced down fascism and communism not just with missiles and tanks, but with sturdy alliances and enduring convictions. They understood that our power alone cannot protect us, nor does it entitle us to do as we please. Instead, they knew that our power grows through its prudent use; our security emanates from the justness of our cause, the force of our example, the tempering qualities of humility and restraint.
-President Barack Obama, 1st Inaugural address
Last edited by FeelTheLove; 01-15-2008 at 09:57 AM.