Hey, I thought I should do my part in trying to help us find a bottom.
Obviously, announcing my intention had no effect on the market, but it was worth a shot. It worked as well as government plan but was much cheaper.
sorry for scarying people but I am in until the market reaches negative terrority.
I am primarily an income investor not really buy and hold. I got rid of most of my BAC stock before they cut dividends. On the other I actually had two stocks raise dividends (KMP, and MGG) in the last couple of day, coupled with GE intention to maintain its dividend, I think my income is relatively secure. The recession is clearly going to have an impact on the ability of most of my stocks to raise dividends. Still my income needs are covered by interest and dividends. At this point even Intel is yielding 3.6% several times more than the so called safety of Government bonds.
Now, I'd be lying if I said the last couple of weeks haven't been bothering my, but I'm almost as bothered by my lack of cash as the absurd panic selling. I've finished reading 600 of the 900 pages of Buffett's book, he made most of his money during times of panic. I know the guy is buying right now, and it is now my biggest holding so I'll let Warren pick up some bargains for me.