Humble confession, Jeffrey, if I were still invested at this point in time, I have no idea what I'd do.
I do think that each and every investor must ask one simple question each and every day, regardless of what the market is doing:
What is my tolerance of loss at this moment in time - am I better off preserving what I have, or can I risk losing some/all?
It has been pointed out many times in the past that the patient, diversified, really long term investor has ended up a winner, even if he/she held all of their stocks during the Great Depression.
Seems to me that now more than ever one's long/short term perspective is what should drive investing decisions.
Every one of us must decide what time period and risk tolerances we have.
Zero doubt in my mind that a well diversified investor that closes his/her eyes on the market today, and opens them again a few years into the next century, will be in the black!
I know, does not seem very optimistic of me, but do you know the difference between a Czech optimist, and a Czech pessimist?
The pessimist says, frowning, "Things are so bad, they just can't get any worse!"
The optimist smiles cheerily and says: "Yes they can!!!"
Cheers,
Svejk
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