Thursday, October 9th, 2008...7:22 pm
Dow Jones Industrial Average
A year ago today the DJIA hit it’s highest point ever, over 14,000, today it fell to 8,579.19. The S&P 500 has performed similarly. The result is that a diversified stocks account has lost about 35% of its value, and the markets have lost trillions of dollars of value.
This seems like really, really bad news, right? Well, it depends upon one’s situation. For those with cash and five or so years of patience it seems the stock market is approaching a very good time to buy an indexed mutual fund for the ride back up. And five or so years from now when one cashes in their profits, one can also sell their losers to offset one’s capital gains.
But, then again, I know very little of the subject.
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