Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
Yeah. Great article.  I sat out the entire bull market of the '80s because I couldn't see how it could not blow up.   Had my 401K in CDs, which at least were paying 6-7%.  Most of my colleagues were in Magellan and did much better.  I finally went into mutual funds in the 90s and  did well until 2000. Did ok again from about 2002 to November 2006, when I pulled out of funds and went all cash.  I thought it certain that the market would drop after the election.  So I missed 2000 points on the Dow.  Still beats riding it down to 8,000 or below.  The very best thing I did was selling my house in LA in the fall of 2005.  Wasn't ready to retire, but saw the real estate collapse coming and didn't want to be on the wrong side of it. Dumb luck beats no luck at all.

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Wed Nov 19th, 2008 at 11:45:07 AM EST
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