Wellll fellow EXSO-holics, this is my 10,000th post on SI.
Hard to believe that anyone who was long in the market as far back as 1998 has lost money ... and that the decline in the NASDAQ is following the decline in the 1929 - 1932 DOW. And the real bottom probably won't come until we see some more bankruptcies and more debt erased. I would have thought that after 28 months the bubble would have been deflated by now. But it appears that now matter when the bubble occurs, human psychology is still the same, and it takes the same amount of time to go from disbelief to disgust.
Looks like this chart, which I posted here over a year ago, is still in effect:
quote.yahoo.com^IXIC&d=c&k=c2&a=v&p=m50,m200,e50,e200&t=2y&l=on&z=m&q=l
I've had my share of losses, that's for sure. Fortunately I kept my day job. Since this is probably the last year of bear market (I guess now it will end in 2003), I'm averaging in via my 401K now. Clearly, I'm a little early, since the trend is still to take money out, but I figure this is my 7 - 10 year time horizon money and that even if the next 12 months are crappy, the remaining 7 will make up for it.
Unless of course, a major bank collapses or Japan goes under or something.
Take care,
Chris |
