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Strategies & Market Trends : Bill Fleckenstein, the BEAR! Is he finally right? -- Ignore unavailable to you. Want to Upgrade?

To: yard_man who wrote (163)	9/30/1998 10:11:00 PM
From: edward miller	Read Replies (1) \| Respond to of 259

Even though your logic is good I still think that people with a ten-year time frame before they expect to retire will just ride it out for a while. They have been trained to think long term. Their totals will not really show them how much they are loosing until prices are even lower. If you contribute an additional 3% this quarter and your portfolio loses 12% your statement shows you down about 9%. That is not good, but I suspect it is not enough for panic. "It will come back before I retire." Just wait until next year. When the 401(k) money has jumped ship the next bull market begins. Do you think that happens this year?? I don't think so. This will be a classic bear market, and it will not end this year. I can not assure you that it will end next year. So tell me this, if everyone sells this year who is left to sell next year?