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Strategies & Market Trends : Groundhog Day
QQQ 619.25+0.8%Nov 28 4:00 PM EST
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To: Logain Ablar who wrote (2885)5/6/2002 2:23:18 PM
From: John Pitera  Read Replies (2) of 6346
 
Great Post Tim, I think that about 2/3 of people between about 50 to 55 and 70, now have a problem with their retirement plans or at least have had to modify the type of asset value they were planning on having over the next 5 years.

Its not just this one planner in doing returns this year I saw quite a few portfolios ravaged by this market. The planner really just lines up the client to certain funds and boy have these fund managers been terrible.

I think the whole class of MBA's since the mid 80's just haven't learned the #1 rule is to preserve capital. It does look like real man is back trying to teach them. Then they have to learn the second rule to buy low and sell high.

the bull market period during the 1990's was long enough that it made most investors look to stocks and expect a 20% + return. The flow of funds went to the managers who were investing in the equities that were going up like that.

There have been investors in the 1990's who stayed in fixed income mostly and also who've been with managers like Gabelli who's made 7% a year over the last 3 years and guys like Bill Nygren of Oakmark who's made about 20% a year over the last 5 years.

So it's always been possible to do smart things with the capital. It's taken lots of foresight and the discipline to not get greedy chasing the mania.

You can do it if one is a great trader. You know you're a great trader if you've done well over the last 4 years. -g-

John
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