Wednesday, October 22, 2008

A Conversation With Robert Arnott

I don't agree with everything Arnott says and I'm not a perma-bear, but I think the following paragraph from this article was very interesting and quite telling about how different this stock market downturn has been versus others:

"The nature of this crash has been so sweeping. In September, 15 of the 16 asset classes we track were down. That hasn't happened over the past 30 years. In October it has gotten worse. Most people look at this and feel devastated. The more sensible approach is to look at it as a buying opportunity."

I also read that something like 91% of all mutual funds were down for the year.

Scott Dauenhauer CFP, MSFP, AIF