Jim,
re: "I believe the mantra on the financial planners/mutual fund companies was "buy and hold", "you can't time the market", it "goes up on average 9% a year"...etc. Oh yes, I forgot about "diversification". That didn't work either, unless you loaded up on real estate and gold stocks (what graduate financial planner recommended gold stocks, hint: not to many)."
You seem to be expanding your rant from financial planners to "mutual fund companies", to try to prove some point.
If you were invested in 40% bonds, 10% real estate and 40% stocks, since the prick of the "bubble", you probably did ~ OK. The FP's were probably even more conservative in their recommendations.
And a lot of folks that bet on bonds managed to make a ton of money over the last couple of years. Not me, obviously not you.
Happy New Year, let's hope the (equity) trend is our friend in 2003.
John |
