Tuesday, March 11, 2008

What I told my financial advisor this morning......

I went to see my financial advisor this moring before work and we had a long discussion about my goals and risk tolorance.,

He of course suggested I "Stay the course"....which of course makes total sense if you think you can't really time the market and believe in long term returns.

But this market feels a lot like the market in 2001.....shaky and based on a sliding economy. I don't see it as market timing to slide out right now as I don't see a solid economy under-foot.

Well, I decided to back down from my 60% equities / 40% bond position to a 30% equity / 70% bond position. I was worried that I would be locking in losses from yesterday's drop....but low and behold, the market rallied big time today and HOPEFULLY he sold towards the end of the day and I might have hit it on an up-stroke. (also slid a sliver of money into a currency trading "fund" too)

No big deal if it continues up for a couple of days.....I don't see that as a long term thing. If it is...then I suppose I screwed up....but I just don't see why the market has been going up for the last 12 months.....seems like as bubble to me. (perhaps money rushing from realestate to the market....looking for "some place" to go because let's face it.....you lose money to inflation if you just put it in your mattress)

I suppose 12 months from now i will know if I was correct, or just a big wimp..... (I could be both too)

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This economic situation is to much for even the old pros to handle.

5:09 PM EST  

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