Quote:
Originally Posted by Muncle
BoomBoom, I've been a big fan of Ric Edelman since I moved back to DC in the mid 90's and started listening to him on WMAL. He has always preached situational investing. As one gets older, closer to retirement, and closer to possibly needing the funds, more and more of one's portfolio should be in safer, more stable, more liquid assets (i.e., CDs, money markets, bonds, etc.) and less in individual stocks that drop just when you need the $$$$. I'd definitely take that as Granny Investing, and like Granny's cooking, it's a lot better than a lot of the new-fangled ideas.
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Good morning, Munc,
I just looked up your guy Ric Edelman on Amazon. I did not know about him. I will have a closer look.
Somewhere, on TOTV, a long time ago, I wrote about how I learned my lesson. You see, I was a bubble-dancer back in the 90's. (How did you know my name was BoomBoom?) Anyway, what I mean is that I danced a little with that tech bubble. It was fun. I would walk in the door after work, flip on Boomberg (er, I mean Bloomberg) and watch that ticker go by, and I would congratulate the heck out of myself.
Yep, Hubris was my middle name.
But I never did part with all of it. But some of it for sure. Gone forever. Fortunately, even during those days, I knew somewhere deep in my financially conservative Midwestern heart to be careful, well sort of careful. I took a hit. But I learned a lesson. And it only took one time. Probably the best tuition money I ever spent. And when everybody said to buy REIT's, all I could see were those empty strip malls everywhere.
So I have been a retired grandmother for awhile. (not a very good cook though)
But this time, I am afraid that it's really different. I agree with what the Captain says in the post that follows yours, here in this thread. What will save us this time? Suze Orman said the same thing last night. Whatever it could be needs to happen fast.
And what infuriates me, and I do mean serious fury, is the fact that I knew it. I saw it coming. How could they not? How could they be so stupid? Or was it stupidity? Or a complete disconnect from reality? Or was it simply pure evil? All of the above, I guess.
So anyway, Munc, the only thing in your post that I could take the other side on is that thing about individual stocks. Overall, I agree with that part, too. But there can be advantages in individual stocks over mutual funds sometimes. Good, solid, dividend payers. But who really knows about any of it this time?
Boomer