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Author: RetiredVermonter Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75649  
Subject: Do not panic Date: 4/2/2007 7:33 AM
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As I read some of these threads, I sense some "panic" and talk of "selling everything". However, I cannot imagine many scenarios in which I;d sell "everything". Certainly, it's very bad to jump either way without having a fairly firm understanding of your own, particular, financial situation, your age, etc.

I encourage people to LEARN something about investing, regardless of whether or not they have "advisors".

It is YOUR money, after all, so, for gosh sake, learn a little about what YOUR money is doing.

Never, never blindly trust someone else.

My two cents.

Vermonter
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Author: joelxwil Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 56521 of 75649
Subject: Re: Do not panic Date: 4/2/2007 10:18 AM
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Do not equate selling everything to panic. Selling may be a quite rational action to the circumstances. When I sold everything in March of 2000, the only panic was whether I could take the actions necessary over a slow dial-up line and not be late for a meeting.

That was one of the best decisions I have ever made.

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Author: RetiredVermonter Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 56525 of 75649
Subject: Re: Do not panic Date: 4/2/2007 11:34 AM
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joelxwill:

True -- no argument. Sometimes, if things ARE going to hell, you CAN leap and be wise. (I escaped most of the high tech mess back then, too, because I smelled a rat.)

Want a more recent example? I was in Novastar (NFI) for a year until late last fall, when the whole housing thing started to feel uncomfortable -- and their seemingly "pyramid like" structure scared me. Am I glad I got iout at $26!!!!

Bottom line is to do careful research and at least maybe shift to more cautious investments.

Vermonter

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Author: ptheland Big gold star, 5000 posts Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 56527 of 75649
Subject: Re: Do not panic Date: 4/2/2007 12:20 PM
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Want a more recent example? I was in Novastar (NFI) for a year until late last fall, when the whole housing thing started to feel uncomfortable -- and their seemingly "pyramid like" structure scared me. Am I glad I got iout at $26!!!!

<grinning>
Aha!! So you're the one that sold your Novastar to me. Its rare that you get to meet the party on the other side of a stock transaction.

You might like to know I've taken good care of your stock. I keep it safe in my account, and talk to it regularly. I am a little concerned that it seems to have shrunk lately. Maybe I need to feed it better.

--Peter <== who, fortunately, did not buy too much of the stuff

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Author: ravvt Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 56529 of 75649
Subject: Re: Do not panic Date: 4/2/2007 1:36 PM
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You might like to know I've taken good care of your stock. I keep it safe in my account, and talk to it regularly. I am a little concerned that it seems to have shrunk lately. Maybe I need to feed it better.

--Peter <== who, fortunately, did not buy too much of the stuff



... or you could follow the BMW method (not to be confused with the automobile, AKA Break My Windows) and double up at fixed intervals as the price continues to fall. Eventually, IF the stock price begins to climb, you will make a killing ... provided the company doesn't go bankrupt first...

http://boards.fool.com/Message.asp?mid=23878864


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Author: RetiredVermonter Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 56530 of 75649
Subject: Re: Do not panic Date: 4/2/2007 3:46 PM
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I did okay with NFI. Sold at $26 after some nice dividends, but it got a bit too tricky/iffy for me in my IRA!

I do like some of the other dividend paying stocks, like BGF, EGLE and Canadians like HTE.

Good luck!

Vermonter

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