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Pastimes : Where the GIT's are going
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To: Ken Adams who wrote (150507)8/22/2007 12:55:48 PM
From: Augustus Gloop  Read Replies (1) of 225578
 
Well....these are for clients - not me. I've become a bit of a nonconformist. I don't believe in people riding a slide PROVIDED that there is valid chart information to suggest a downturn. Most guys just toss their hands up and say dollar cost averaging - that doesn't work for me - its not enough. Since these are retirement dollars there are no tax implications for people to slip into a MM fund when the chart suggests downside risk is greater than potential upside.

I have another problem - I don't think we even know how bad this mortgage issue is! When the Fed cut the discount rate last Friday (before the open) news hit the wire that Countrywide Financial was within 2 days of bankruptcy. The situation is far worse than I believe we're being told. What we saw from the Fed was a discount window cut - that only helps the liquidity issue for a little while. I think they'd have cut the Fed Funds rate as well but I think there's another issue we're not being told the whole truth about - inflation. All the talking heads say we're out of the woods - start buying! That makes me think we're going to get spanked in the next 45-60 days. I don't want to be wrong and I don't want to be right LOL!! My job is very difficult but thats only because I really try hard for people. Sometimes I make it harder than it needs to be but thats why its called a job :)
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