I bring this up because of all of my experience with the investing public. I can't begin to tell you how many have walked through my door with accounts down 50% and worse in the last bear market. Each was told that everything would be okay. It was just a correction and things will come back. Well, the NASDAQ 100 is still down 70% from its highs (and that's five years later).
My main point is that absolutely no one knows where the market is going to be one year from now, let alone 10 years. We have all found out that predicting markets far out into the future does not work. Remember the book "DOW 100,000?" Many experts continue to tell you where things will be, but I believe in what the market tells you. I believe it is the only opinion you need to listen to. The market is the final arbiter. In times like this, I always believe it is more important to err on the side of caution. There will always be opportunity, so protect your capital. Look at what you own. Look at what has been under-performing and why. Look at your sell discipline. If you are taking big losses, it is time to reevaluate. Don't just sit there!
This weekend our Business Block has much more on how politics affect YOUR investments. Tune in Saturday 10am — noon ET.