August 2011 Newsletter: Comments on Recent Market Volatility
We are getting the market volatility we expected in our email of July 21st and then some. Despite the credit agency downgrade of US Treasury debt, our core bond fund holdings are holding up well. The stock market, as you know, has reacted violently. We all have vivid memories of 2008 when stocks lost significant value. Our belief that trying to time the market is foolish remains unchanged. A few clients suggested that we exit the market prior to the August 2nd debt ceiling deadline and reinvest on August 3rd. Of course, we now know if we had gone along with that plan, we would have stepped...
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