Aus, company basics work long term, 3 to 5 years, market conditions work short term, 1 day to 1 year, for instance. Look what happened last year with an interest rate rise. The Gorillas took a beating, because the funds could sell them easily to raise money to pay off people who wanted out, and they also sold them because they knew everyone else would, a circular situation.
I rode Cisco from 65 to 45, and it was not fun, I will tell you! But, I stayed in, because I knew it would come back up, and because I cannot time the market. We certainly don't need an interest rate increase this year, IMO, but, the Fed is a bunch of nervous bankers, so God knows what they will do. |
