imported post
Hi folks,
Igot caught up in the name calling and apologized to MT for doing so. It really doesn't help anyone. I am considering leaving the board because as a buy and holder, I really don't have much to contribute in terms of timing your accounts. The focus of the board is market timing rather than long-term, diversified buy and hold and so, not sure that I can really say too much more than I already have that will help anybody here out with their accounts. If others are interested in diversified buy and hold, I would highly recommend William Bernstein's books, "The Intelligent Asset Allocator" and "The Four Pillars of Investing" as well as visiting Diehards.org and CoffehouseInvestor.com.
One point I feel that I need to make. I have seen members over the last week or so seemingly very frustrated about how the market was down for a few days.The market goes up 5-6% and everybody is happy, the market goes down 5-6% and everybody is heading for the exits (well maybe not everybody). Investing is for a lifetime and for me personally, it's a marathon, not the 100 yard dash. Professional money managers agree.
Ted Aronson,professional money manager, holds a 70/30 allocation of index funds in his families' personal account. He does not tweak it.His basic allocation is: 20% large, 20% small, 30% international, and 30% fixed income. His profession is to go out andbeat the market via timing and yet, for his own families'accounts, hemaintains a diversified portfolio of index funds.Warren Buffett maintains thatmost amateur investors would be better served buying and holding a diversified portfolio of index funds. Who am I to argue.
Peace to all and goodluck with your accounts.
Pete