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Fagan Associates Archive for October, 2011
Entries (RSS) and Comments (RSS).
Any specific stocks named in this presentation may not be representative of current or future investments in the portfolio to which they belong. You should not assume that investments in the securities identified were or will be profitable. We will furnish, upon your request, a list of all securities purchased, sold, or held in the portfolio during the twelve months preceding the date of this presentation.
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wow!
Thursday, October 27th, 2011We sit here stunned by the ferocity of this rally yet not.
The market has the ability to confound and frustrate the greatest number of investors possible. The level of negative commentary on CNBC was at all time highs a few short weeks ago and we received several phone calls from our investors expressing concern and contemplating “evasive” (i.e selling) action.
Now we sit firmly over 12k and up some 1400 points in a few weeks time. Resisting the temptation to say “told you so” (and not because we knew this rally was coming but only because we think selling in panic or buying when greedy is ALWAYS a mistake)- what is an investor to do now?
We sometimes feel too folksy and simple to get respect but here are a few principles good investors should heed:
1. Know yourself - there is no shame in being a conservative- risk averse investor. There is shame and financial peril in being a risk averse investor during times of market turmoil and not one after the market has advanced. Frequently we hear, ” I’ll get back in when things are better” - TOO LATE!!
2. Invest towards your objectives and not how the media is telling you that they invest. We frequently say, sell to your sleeping point.
3. Be diversified. It never hurts to have cash, bonds AND that’s even in an “up” market. These assets frequently enable jumpy investors to weather those difficult markets (remember September- that was last month!!)
We are happy that the market is moving higher off of the European debt settlement (seemingly solved for now anyway) but caution investors to not become too giddy. Just as we were preaching calm during the market storm that was September.
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