I tried to help my friend this spring, and gave her all the data from piggington, The Big Picture, Calculated Risk, Yamamoto Forecast, about the housing slowdown, recession, and lower stock market. She said she would study it, but apparently I did not present a convincing case. This week she told me she is still in the stock market, because “it is doing very well”. She lost 1/2 her money in the tech stock crash, but this time she thinks it is safe to be in the market. For the record, I think the stock market will bust almost as bad as in 2000.
It’s useless to even try to convince people to move to cash, because Wall Street has done a great job convincing people that stocks are safe, risk-free and only o up in the long term. Financial advisors who are commission-paid, will probably not tell you to go into cash.
