Pollyanna

Fear the Market or Fear Yourself?

Perspective is everything.

Thank you, Mr. White, for the first "thumbs-up" article I've read all month.

The last commenter was right on in regard to encouraging people to educate themselves. However, I take issue with criticizing Mr. White's article out of hand, because in my opinion, we need more such communications immediately to counteract the widespread misconception that "the sky is falling." It is only falling because we make it so.

Economic "experts" can spin numbers to support any viewpoint as everyone knows. I'm no expert, by any means, and I'm fortunate enough to have a few years to go until retirement, if such a thing exists by the time I get there. (For folks at the brink of retirement or in the midst of it, my comments obviously do not apply; I'd seek a well-recommended, affordable financial planner for guidance.) However, I know enough to be skeptical of 99% of what I hear and read when it's conveyed by clearly biased sources. Responsible reporters and pundits with integrity should follow the Hippocratic oath to "do no [more] harm" and present data in a balanced way. The public deserves more measured responses from reputable sources. For example, check out some of Morningstar's Analyst Reports. At sites like this, you'll learn that the balance sheets of many American companies are surprisingly sound. If U.S. companies don't continue to be taxed to the hilt, many will be poised to hire, create new jobs, and invest in R&D with the cash they have on hand. The contrarian in me sees under-valued, well-priced opportunities right now. I only wish I had more to invest.

Yesterday, I did invest15,000 in five stocks I've been itching to buy, and I'm keeping another $75,000 firmly planted in individual, common stocks I've held throughout this downturn (I use Buy&Hold with Freedom Investments, one of the less-expensive ways for the average investor to dabble or buy online for the long haul.)

Additionally, after a careful portfolio review, I'll adjust other retirement and non-retirement investments, and keep them where they are, because the firms still look good (Vanguard, USAA, Janus) and they're doing what they can to protect NAV. I certainly don't want to lose further value by paying more capital-gains' taxes than I already do.

Cash can be moved into better interest-bearing accounts. For example, check out bankrate.com to compare (ING, Charles Schwab, and e-Trade Bank have some good options right now).

And, I'll vote. (I only wish I could vote Warren Buffett into the position of Treasury Secretary.)

Finally, as soon asI can set aside more cash to invest, it's going to Disney. The world needs more of its brand of happiness until sanity is restored.