Originally Posted by
Florida Flyer
8000 may not be so far fetched. In a tightening credit market, more and more businesses are slowing growth or contracting, leading to lay offs, less profits (or losses), and falling stock prices. But don't take my word for it. Jim Cramer believes stocks can fall another 20% before the market bottoms. He advises investors who need access to their money within the next 5 years to totally divest themselves of the stock market. His opinion can be seen at the following link.
Jim Cramer: Time to get out of stocks - Today Technology & Money - MSNBC.com
He advises investors who need access to their money within the next 5 years to totally divest themselves of the stock market.
I respect Jim Cramer, but I think this may be a little far-fetched. 5 years? So much can happen in less time than that.
But what if you do not need access to your money within the next 5 years? If you can afford to stay in and don't mind holding on for the long term, one could make a small (or large) fortune.
I for one am willing to place that bet. It seems like the wealthiest people in America did not become millionaires via the route of "playing it safe". 10 years from now I hope to be feeling thankful I stayed in while so many others pulled out.