A number of other personal finance bloggers have started picking up on the fact that several others of us have sold some stock due to the market going on it’s wild ride. I wrote the other day that I had moved out of my individual stock portfolio just in time. But what readers should know is that I am not advocating getting out at all and in fact if anything, if you have long term investing and are OK with managing individual stocks, you should be getting in, not out – there is a sale on stocks right now!
For me, moving the rest (well, about 85%) of the money I had in individual stocks out of the market was something I had been planning on doing for for some time as I was moving towards a mostly mutual fund investment portfolio. And now I am almost there, except for my BofA stock which I am not touching.
So there you have it…I have not lost my mind, I have not taken every one of my pennies out of the stock market, I am not stuffing cash under my mattress. I simply cashed out at the right time and got lucky with my timing.
Hope that makes more sense.