No. of Recommendations: 19
I don't need the money and I don't have a better place to put the money if I sell. The only one who would benefit if I sold right now would be the taxman! I'm content to sit on what I have and add to it when a future recession or market crash creates temporary opportunities.

Is there anyone here who has been more focused on capital gains and selling to preserve those gains?

I'm not a regular poster here but would make a couple of observations:

1. I read Graham different than Charlie, but in Chapter 4 and 5 I've seen a time for the last two years or more to be overweight in bonds or bond funds as a defensive investor. I see that less now.

2. Jack, you might want to post your observation on another board about the current economy. During the week I didn't have the chance to comment, but I think it was insightful. I think that is a reason to be cautious, but not necessarily by being in bonds.

3. The fed talk last week again says that they will hold down interest rates and keep the dollar cheap, especially to improve employment. Again, stocks.

4. I think you can get value-type bond-like investments now elsewhere. JNJ, GE, and others are places I consider bond-like now. Perhaps also very cautiously in REITs or Canadian variable rate instruments. Jack may wish to elaborate on his feeling about bonds vs value/dividend investments.

5. OT since I'll lurk again, I really wish that we could discuss bonds vs. bond-funds without the hyperbole. My returns in bond funds, short, intermediate and dumb luck long Vanguard funds about equalled Charlie's (which I posted once and then got out of the way). They are different, I know they're different, I understand I'm average, and I also understand I beat 60-70% of everyone else by being average. I make my money in other ways. Sorry, but I get tired of the gratuitous shots at Loki.

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