Quote:
Originally Posted by Botnst
No, gentle person. I refer to nincompoops who believe that acknowledging things as they are is the same as claiming that's how they ever shall be. It is a foolish person who thinks things cannot change.
My 401k is doing fine. I adjusted out of stocks last November and into T-Bills. In late summer I'm intending to shift back into the stock market.
Sorry about your 401K. Stayed in the stock market huh?
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I've got better things to do than to constantly watch and time the market. I think that's one big reason so many wealthy and powerful were big on the whole 401 k thingy. It brought a huge new pool of people too dumb or distracted to notice that they were buying overpriced stocks and who stay with them when the real card sharks leave them holding the bag.
It's a sordid mess -- many of the so-called gains made in the market are made directly on the backs of the losers.
I'm trying to recall another period in American history when infatuation with distant gains in the stock market, of an almost magical sort, was big. How'd that one turn out?