Quote:
Originally Posted by Rain Man
Ouch, that hurts. The markets turn on a dime, and you never know when the rally's going to hit. And if you miss it after absorbing the downside, it's painful.
My wife hired some paid advisors a few years back, and they did the same thing in 2020. I protested, but honestly it was kind of a muted protest given how bad the market was for a few months there. There was a month or two when I was wondering if the market was going to drop 80 percent before it stopped bleeding. It was her account so I'm not sure when they got her back into the market and how it turned out, but I can't imagine that they timed it perfectly in that weird time period, so I'm sure it ended up costing us some money in the long run.
I guess it made us feel a little better at the time that we weren't going to become paupers, so I'll admit that. But I was still protesting.
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For years, my thought was always stay in just for that reason... the spikes can be fast and sharp, and can you really jump back in without losing out on the best part... plus of course all the guesswork and second guessing on when to move out and back in.
I feel like I have the expertise to screw up my longterm outlook all by myself, and I wouldn't even charge myself fees to do so.
