Yes, Ramsey; I know you're serious. It is serious.
I read an article not too long ago in SmartMoney about the new breed of online "investors"; craps shooters we'd probably call them. The article went on to say that with some mutual funds you now have an option to dial-up (phone or online) and select, with a single button push or keystroke "Sell Everything".
You may have seen yesterdays news item about the SEC OK'ing mutual funds to accept credit cards? Essentially, 100%+ margin buying at 18%+ interest. If I hadn't read it myself, I would have said, "BullSh!t; it'll never happen!".
My perspective is when the next big shakeout does occur, those "Sell Everything!" buttons will get pushed in shock-like panic, and there will be fantastic bargains for the real investors like yourself. Unfortunately, I'm not smart enough or, likely, lucky enough to know when to jump in or out; so I sit tight, although it's not always easy (but does, almost always, prove right).
Good luck and Regards. ...Tim |
