In October, my nerves couldn't take it any more, and I sold out the stocks that comprised the modest mite that I had hoped would see me to my grave. As it is, measured by projections of resources versus overhead, I have a life expectancy of 5-6 years before I either reach for the hemlock or take up residence under a viaduct somewhere.
This morning, on NPR, I heard the great David Swensen of Yale counsel against selling stocks. That may be good advice if your own good companies for pennies and are looking at a fat tax bite even at these levels, but the way I see t, if and when it seems reasonable to go back into equities, I will have more money with which to start.
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