The Bad News Is, Ya Ain't Seen Nothin' Yet. The Real Bad News Is, I Think It's Just Started...  

Just remember one thing: there are no good stocks. They all suck. Even those that are making you money are going to turn on you sooner or later. The only stock you should say anything good about is the one you no longer own that made you money.

--Reverend Shark


Charts and tables are up. Our "SPECIAL" day from last week continues to repeat like a bad burrito. Look at the charts for our funds since June of last year. We made a very nice return and the overriding direction for the funds was up. There was little to no give and take, the swings in price (volatility) were muted, and those down side moves were stored up for the future and did not fade away into the aether. So all the medium size swings around the mean we haven't had have wound up and finally been delivered all at once and the direction is down. Successful investors with profits to protect and fresh money invested as of the new year are puking the positions back out NOW and going to cash or bonds. There is a lot of fear and the call is "Get Me Out NOW, I don't care about the price!!!! And it is world wide. It started in China and is washing in waves around the world. At the same time, all the talking heads and pundits that talk to the individual investor are advising caution, not to panic, and to hold on for the long run. "Don't react, ignore the man behind the curtain, everything will be fine once this is over.". That's all fine and dandy to those to whom that makes sense. Me, I'm 80% cash as of last week and going to even more cash tomorrow (Tues). That's saved me a tidy sum as of today.
Selling when it makes sense is the other side of buying when it makes sense and the alternative to not just making my 401a a one decision thing. This is what I gotta do. I believe our sticking with McMorgan as our sole money manager for so many years cost us big time and I'm putting in the time and effort now that I should have put in then.

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