Long Haul
You and many thousands like you have been on the
phone this week calling your broker or so-called financial
planner asking, "What is going on?" Should I sell?"
The answer is written in their playbook put there by
the big Wall Street private interests. Let's quote a few of
the sentences the poor (at least soon to be) investor is going
to hear:
"This is only a correction."
"Don't worry. The market always comes back."
"Diversify into XYZ (or some other dog)."
"Buy more now and dollar cost average"
"You are in for the long haul."
What you won't hear, "I have no idea what is going on."
He can't say that. He is supposed to be an expert. The truth is
none of the brokers are taught to protect customers money.
They are only taught how to get investors to send money to
the brokerage company. Then the broker will use his
"expertise" to help (sic) the investor put it to "work".
Pardon the quotation marks, but that's to have you
understand that those are lies. The brokerage company is not
there to help you make money; they are there to make off you.
For years I have been preaching in this column and
in my books that every investor and every broker and so-called
financial planner must have an exit strategy. Do you? Does
your broker? The guess is 99% do not. If they don't then plan
on losing the money - over the long haul. It is a long way to the bottom from here.
Is it too late to sell? Go back to 2000. After the first
break down everyone wanted to sell so they decided to get out
"even" in the next rally - that never came. The NASDAQ
dropped 78% and many folks lost almost everything they had
saved. The wait-and-see, get-out-even philosophy is for losers.
Don't plan to retire.
This is a major bear market that will last several years.
Many companies will go under and their stocks will become
Worthless. Hopefully none of the stock you own.
There is one other statement you will never hear from
your broker: "CASH is a position. Sell now" He can't say that
or he will be fired. Brokerage companies make money even
if the investor doesn't trade. It is only about 1/1/2 to 2%, but
if investors went to cash in a money market the broker makes
nothing. This is how Buy and Hold makes money, but not for
you.
It is my very strong opinion that we are in a long term
bear market. Stocks will lose 40% or more of their value. Mutual
funds will be hit the hardest because they are required to remain
fully invested even when the manager might know there is
nothing to buy and is not allowed to sell.
The only safe place for money for the next year or
longer will be U.S. Treasury Bills or an ETF (Exchange traded
Fund) called Power Shares Laddered Treasury Portfolio,
symbol PLW. Even your mattress will be better than the stock
market.
Are you in "for the long haul"?
Al Thomas' best selling book, "If It Doesn't Go Up, Don't Buy It!" has helped thousands of people make money and keep their profitswith his simple 2-step method. Read the first chapter and receive his market letter at http://www.mutualfundmagic.com anddiscover why he's the man that Wall Street does not want you to know. Copyright 2007 All rights reserved
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