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The Decline Continues
By Jay | January 21, 2008
This poor guy logged in to his trading account this morning and found that he had lost all of his money. Warning, lots of swearing.
Somehow I think I may be sounding like him when I log in to see my 401k balance tomorrow. Whereas he’s in his 20’s and has a lot of time to make up his losses, 10%-20% is a huge loss for me.
Ah well, the best thing to do in these situations is just to understand where you are, learn your lessons, and make the best of what resources you do have.
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Stumble it!
Topics: Finance |
January 22nd, 2008 at 2:59 am
you forgot, and buy low ;)
January 22nd, 2008 at 10:07 am
You have to remember that the drops in the market are often followed by rebounds. This might not seem like a comforting statement faced with 10-20% losses right now but over the long haul you’re still likely to make money.
Don’t let it get you down.
January 23rd, 2008 at 8:54 am
Ugh, so true about buying low…but I have to ask myself, would I be thinking about buying now if I had a pile of cash? And the answer is “yes.”
For that reason, and the fact that the markets are as oversold as I’ve ever seen them, I’ll stay in for the time-being.
I may re-balance my 401k funds if we get a nice bounce in the next few days.