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We've allowed a Financial Consultant to handle our affairs since retirement, but his lack of doing ANYTHING has seen our portfolio drop 50% in the last 18 months.

I don't have data for the past 18 months, but in the last 12 months, the S&P is down 19% or so. This is better than -50%, no?

My largest holding is New Perspective (ANWPX), down 13% in the last 12. (Yes, I know ... actively managed, large up-front costs, but I already own it, and I am satistied with the performance.) My next largest is Income Fund of America (AMECX), down 5%. This is an income oriented fund (duh!). Without it, I would be much worse off than I am. My SmallCapWorld (SMCWX) is down 15% (Not my "worst" holding, btw!). The Vanguard Extended Market Index Fund is down 14%, also better than the S&P.

My point is that it isn't necessary to be down 50%, even in an awful market. I hope you were up a bunch in prior years.

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