If you're like me and check your mutual fund balances only on the last day of the month ... today is the day ... have you looked yet?
I just checked mine ... a 4.4% drop compared to end-May.
Oh well ... My grandpa told me that his father (my great-grandfather) told him that the price of a stock only matters when it is time to sell. And for those of you doing the math, yes, those words came from a man who was buying stock back in a day when very few people did, long before mutual funds. I will heed the words of my ancestor and not sweat it.
P.S. - I'll tell you what I AM sweating, tho. The 4.75% locked rate on my Wachovia MMA expires on Wednesday. I will miss it dearly. They're offering a 7-mo CD at 4.00% APY. I may go for that. They also have a 12-mo CD at 4.25% APY. (Both have a $5K min)
Have You Looked Yet?
June 30th, 2008 at 11:37 pm
July 1st, 2008 at 12:30 am 1214872205
July 1st, 2008 at 04:40 am 1214887217
I feel exactly the same way as your... great-grandfather? With a long term horizon, value investing (buying in right now) actually makes a ton of sense. My 401k is set passively for the long term. The Roth is short-term, but that's to satiate my current desire for stock trading.
July 1st, 2008 at 12:45 pm 1214916306
As the saying goes, "When there is fear in the street, get greedy."
July 1st, 2008 at 02:01 pm 1214920914