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On a long term basis, you are no doubt correct. Good companies will prevail.

However, the market is taking a drubbing right now, and most likely will continue to slide until Tues/Wed of next week. On that basis, I believe a wise person should reduce holdings short term. The transaction costs incurred to sell and buy back in later are minimal compared with a 10-30% loss as the market continues to slide (depending on the size of your holdings of course).

Just my one can predict the market.
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