Well, assuming I had any (I didn't), I suppose he would've. Actually, we were in Myrtle Beach on the very day the Dow did its big seesaw when it peaked. This was a month after the Naz started to reverse, of course.
We had a great discussion over beers about the future of the markets. He was insistent that a reversal was overdue (I was less sure) and that the economy needed to take a breather.
I'm not sure that passes as telling me to "take my money out", but I'll say it was. Given that I avoided the dotcom buy and bust (as a student of economic history, I recognized the dangers inherent in that mania), I stuck to infrastructure stocks and did quite well. Admittedly I got burned on 2 of them, but I stuck to my guns and that's the main thing. If you don't follow a philosophy, you'll always lose.
My 3 biggest winners during the run up were UVN, AAPL, and ORCL. I made a killing with them, and got out of all at about the peak. GE was another one, though it was mainly 401(k) money, so while I did extremely well, I still suffered as it pulled back (and eventually got out of it).
I assume that "answers" your question, though the question itself is irrelevant as it pertains to my situation.
Oh, there was a stock I own(ed) - ASPT. Bought it at 8, watched it hit 60, and had him tell me to "get out, get out". Sometimes listening to a pro is a good idea.... |
