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With the so-called fiscal cliff we know what's in the cards. If we go over the market will, almost inevitably, go down. If and when a workable compromise is struck then the market will invariably go up. - kelbon

Much as I appreciate your investment thoughts, kelbon (you are, after all, one of my "Favorite Fools"), your post offered no new insights.

As I've mentioned, more than a few times, I maintain a portfolio of stalwart stocks that I've held for many years. Decades, even. I'm not one to go off hunting for new "prospects" (although, if a new prospect catches my fancy, I'll take a nibble and start researching in earnest). It's taken me years to understand the companies I've bought, their managements and their prospects. I DON'T trade in and out of new names, new sectors, new "stories" willy-nilly.

Having said that, I've also said that I "swing-trade" in order to build my holdings over time, growing wealth above and beyond simple capital appreciation. My goal is to accumulate ever more shares of the companies I believe have strong long-term growth prospects. As a consequence of my personal investing style, I'm acutely tuned in to Market moves, either up or down. If I believe the Market is moving higher, I hold my shares until such time that I feel they've become overvalued/overbought. I then "harvest" profits.

When the Market turns down, I cheerfully buy back all sold shares (at a discount). I don't "freeze" on Market declines. I snap to action and buy.
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