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I can't say I disagree in toto. Unfortunately, I am not sitting on a lot of cash, but I am planning to make some major changes soon (I too judge that the market has not reached its bottom, but I am not a bottom feeder; I am just measuring where the best opportunities lie). I've reached an age where it is prudent to move (mostly) to blue chip dividend paying stocks (and WAG is such -- so I'm just peeved a bit about the portion I bought in 2006 which was, as you say, near a peak; and not the portion held since 1998 which has done well).

I think those portfolio changes to be made can be done easily -- there are no shortage of good stocks to study now. The problem is that I do not want to abandon growth entirely -- because I like it ;-). So I stew about Starbucks and Netflix et al, far more than my total position in such justifies while I just never think about BRK which dominates my portfolio (and clips along at an IRR of 12%). So if I had true mental discipline I'd find a bunch dividend payers that match BRK roughly (not impossible). Then by the rule of 72 I should be doubling my portfolio every six years. Six years being important as I retire then and will rearrange for the long term as I start to draw. I appreciate you insight about WAG; I was (am) leaning to some financial stocks like Wells Fargo and Bank of America (but can't pull the trigger in these times).

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