After the market rallied nearly 11% on Monday, it dropped 1.5% yesterday, and another 9.3% today. Given that I manage money for a living, and am experiencing this manic market firsthand, I find myself somewhat sympathetic to stories of folks stuffing their money under a mattress. Do I think that taking a moment to be kind to ourselves -- to nurture ourselves -- is probably in order. In fact, curling up for a quick nap on that mattress under which we are thinking of stuffing our money might not be a bad idea. But then what? Do we really liquidate all our positions, and sit entirely in cash?
15 10, 2008