
This snapshot shows the Dow's performance over the last 10 years or so (roughly the amount of time since my graduation from law school). Without even adjusting for inflation, the Dow is netting a big fat 0% return over that period. I don't think many people "
buy and hold" these days but I remember when that was considered good advice. Or maybe it still is? I don't have much invested but what I have was saved by pure luck. Early last year I rolled over an old employer 401K into a new IRA but neglected to complete the instructions indicating how I wanted the rolled over funds allocated. Absent instruction, the funds were placed in a money market account. I forgot all about it until the current crisis started to really snowball. When I finally checked on my account, imagine my surprise to find out that instead of losing most of my money during the last year, I'm up a killer (in this market) 1%. Me, your new financial genius.
1 comment:
Thank God all of my money is invested in WorldCom, GM, Chrysler, Citigroup, and AIG.
These companies are bulletproof in any economic conditions.
I haven't check my actual investment statements in years, but I'm pretty sure everything is just fine.
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