Mis:
I have heard a thousand similar stories this past year,.... some from close friends. Yes, I feel very sorry for them, but I also remember the drubbing I took for pointing out where the research suggested we were going. For many, it is "self-inflicted pain", especially those who refuse to dump their mutual fund holdings, to wit;
" I can't do that as it would cement the large losses".
"That doesn't make sense as I would have to pay taxes".
" Well my financial advisor says things will pick up next year, so I will wait until I can get out with no losses"'
"I'm in it for the long haul, so it doesn't matter".
"I'm not in any trouble as fortunately, I'm not in stocks, I'm in mutual funds".
"My wife would divorce me if I did as then she would know how much we have lost".
"I sure wish I had listened to guys like you a year or so ago, but now it is too late and I have to stay in."
"Yes, you bears are winning right at the moment, but stocks always go up, so all I have to do is to be patient".
ETC.
Best, Earlie |
