Just lost $2400 in Fidelity Contrafund...Need advise on better options
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ICQ: 150-803-430
Email: marketing7(at)cox(dot)net -
uh, in case you missed it the market is in flux so everyones 'lost' money. Just find a fund that matches your goals and buy in, it's not like buying individual stocks. Best advice is to ride this out and if possible to even buy more now, shit will get better long term. -
They are for long term. Concerning yourself with the recent down spike would be silly.Comment
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Diversify. Make sure you get a range of funds not all in the same market, ie don't buy all USA. Make sure you mix in some bond funds which tend to be more stable than equity based funds.
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Thunder-Ball.net - MemberComment
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Most mutual funds are losing money at this moment. The best thing for now is to stick with it until the market is doing better. Then you can make a choice to keep your money in that particular fund or reconsider your investment strategy.
Most funds should bounce back to their usual performance unless there was a change in fund management or investment direction.
During these times, I recommend not checking your portfolio too often!
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get out and put it back when things are more stable or when you think it has reach rock bottom.... sure it will go back up in a few years but why take a fall if you dont need to?Comment
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Sell low buy high!!!
...or something like that.
AmenComment
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That's good advice and exactly what I just did. I moved it over to something very stable. I'll move it back when things look better. I'm not going to take another loss when I know it can be kept safe.
But thank you guys for confirming that most are losing money now.Last edited by NTSS; 10-18-2008, 09:37 PM.ICQ: 150-803-430
Email: marketing7(at)cox(dot)netComment
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Explain how taking it out was good advice, that would of hard set your loss. The money is all virtual so to speak until you cash out. For most they should not need access to that money until they are retired or around 60/65 years of age. Dumping it now and concerning yourself with short term market losses is not thinking long term. Unless your fund is and was based on a high risk portfolio in the first place which would of been not that wise anyways.
Yes I have money that is technically down. Also have some shit that is locked in at 5%, then have some in gold and the like that has grown a great deal. I am still buying stocks, still doing the maximum allowance into my Roth IRA, and such too.Comment
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You dont take your money out for little drops here and there... But when you know or strongly think that shit is going to hit the fan, taking the fall is not needed, you can put back that money when things have hit rock bottom and make a bigger gain...
some economists, who have been right so far are evoking the possibility of another great depression... If you are certain all will be fine, then keep your money where its at.. otherwise why keep it there?
btw, during a real tough time, possibly a great depression, why should you care about the prospect of your mutual fond climbing back and making gains in the future when your MF is down to 30% of its value, and that when you need money the most?Last edited by xxxdesign-net; 10-18-2008, 10:05 PM.Comment
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The majority of mutual funds underperform, even in bull markets. In bear markets, they get obliterated. My advice is to leave your money in the mutual fund until you at least break even again (could take years) and then move your capital into a fixed income security, like bonds, treasury bills, or CDs.Comment
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If the "shit hits the fan" its not going to matter if you save your dollars. They will will be more valuable as stove fuel.
I'm not saying anyone should start dumping the money they need to live in the market, but the risk vs reward is good right now for INVESTING...
If you really want to take losses in the fear we're going into a depression I guess
you should be buying precious metals with it. Even that's not truly failsafe in a "doomsday" scenario.
(As for the original topic, I don't participated in any mutual funds, I play on my own)
AmenComment
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My funds are just do to the roth. Rest of my stocks are self picks.
Forgot to add that.
Either way both are very down right now.Comment
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