people who had deferred large capital gains into 2000 are selling in a panic so these gains don't disappear on them.
The headline in the LA Times was that this was caused by high interest rates. The body of the story was "Profit taking". The press can't make up their mind, but I am sure you are right, Ranney.
I almost pulled the trigger last Friday, but I was too indecisive. At least I got enough out last week to live on for 6 months, which should take us through this downturn.
A side effect may be that the Fed will not raise, or raise as much, because of this.
A nice side effect, ironically, is that I can look at taking this big of a hit, and not have to worry, long term, about it. If anybody had told me, a year ago, that I could drop a mil and not run screaming into the street, I would not have believed them! I guess it is "easy come, easy go"! |
