This is not a buy-and-hold market.
As we roll into 2009, I’m sticking with the same overall theme as I have in years past: this is not for the buy-and-hold crowd.
Individuals looking to follow the “buy for the long haul” recipe will get destroyed. The media may call this a bear market, but this first decade of the new century has really been a “fair” market. Meaning, there have been (and will continue to be) opportunities to be bullish, opportunities to be bearish and opportunities to sit out for a dance or two.
I don’t see that overall theme changing anytime soon.
What I really hate about the first few weeks of any new year is this: anywhere you turn, you will find some “market expert” making predictions for the coming year. At Mullooly Asset Management, we do not predict. Which sets us apart from our competitors. Once you make a prediction, you are boxing yourself into a corner.
You had better be right — or you had better be good at coming up with the reasons (excuses) why your prediction didn’t work out. And then you are just like everyone else. Watch the talking heads the next few days — they will all make forecasts for the coming year. Why doesn’t anyone ever hold these people accountable?
TV networks can save a lot of money by having the weatherman make predictions about tomorrow’s weather — and the future the stock market as well.
Instead, you and I will focus on “what is actually happening right now.” I don’t really care what may or may not happen with the economy or the stock market in six months or a year. I care about what’s happening with your money right now. My job is to make sure that your money is invested in the right place, right now.
If you would like to know what is happening “right now” and what you ought to be doing, call us at 732-223-9000 to set up a phone appointment. If you have internet access available, we can also have a web-conference and show you the methods (including some of the charts) I use to manage money for clients. You can also sign up for our email newsletter (the box is right below on this page).
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