@MikeM,
Interesting ... Your brain, like most of ours, is having to deal with the “fear of missing out” (on future
gains), which is an entirely normal human reaction - owing in large measure to the length and extent of the recent bull market.
While buying the dips is often profitable, sometimes it amounts to nothing more than grabbing for the proverbial
falling knife. I think you are on the right track in sticking with your plan and trying to err on the side of caution. No crystal ball or expertise in market analysis here. Like you, I try to read a lot of varying opinions from those with more knowledge, qualifications, and experience than myself - some appearing in David’s monthly
Commentary (ies). And than shape my own conclusions.
I doubt you were serious about selling everything on March 11.
https://www.mutualfundobserver.com/discuss/discussion/39024/because-nobody-knows-what-s-going-to-happen-next But had you done so you would probably be money ahead at the moment. The S&P 500 closed at 2786.5 on Friday, March 9, near a record high. The NASDAQ actually did reach a record high that day (7561). Since than there’s been a lot of turbulence - as even veteran Jack Bogle has noted.
Our situations are much different. But FWIW, the only “buying” I’ve done in recent weeks is to dribble a bit into PRWCX, bringing cash levels a bit closer to normal. (Some don’t even place that one in the equity camp - considering it a balanced or allocation fund.)
Dry powder is better than
shot powder. As Yogi noted, the nice thing about cash is that
“you can spend it.” Regards and thanks for all the great posts.
