Did you stick with the Dow?
The stock market crashed 5½ years ago, erasing $11 trillion from portfolios. On Tuesday, however, the Dow Jones industrial average finally reached a new high, closing at 14,253, topping the record of 14,164 set Oct. 9, 2007.
This proves again that old saying: The market goes up; the market goes down. Maybe the market is overheated right now and due for a correction, particularly with our jobless rate resistant to any great improvements.
Many investors fled from stocks during that crash. Others stuck tight or adjusted their holdings.
I’m sure many readers are like my wife and me. We don’t have pensions. Our retirement monies are locked up in 401(k) and IRA accounts. Years ago, we decided we didn’t have the knowledge to properly manage many of these holdings, so we hired help. Portions of our funds remained invested in the stock market.
What about you? Did you stick with the stock market? Did you remain all-in, or did you adjust your holdings when stocks were falling or after the crash? If you got out completely, did you ever get back in, or are you thinking about it now?