So I just took a Fool poll asking whether I am staying in this market or not. I side with the 39% of Fools who are trying to get all of the cash they can to buy up these rare bargains. Of all the varying responses to the poll I can sympathize with most of them. But I get a sinking feeling in my stomach about the 4% of Fools who are pulling everything out of the stock market and going 100% cash. Whether this sinking feeling is for them or for myself I am not sure.
I wonder if their actions are rooted in fear and weakness or if they are based on brutal objectivity, a willingness to admit being wrong about stocks, and the courage to take a large loss to avoid a larger loss. My rational side tells me that buying stocks right now is a high percentage play if I am looking to accumulate wealth. I may not be happy with where the market is a year or two from now but five to ten years from now I don't think I will have regrets about buying stocks in this market.
Everybody I know has left their investments unchanged.They aren't happy about this market but they aren't making hasty decisions out of fear. This leaves me wondering: Who are these people who have pulled all of their money out of the stock market? I would like to meet one of them. What kind of impression would he/she make on me? Would this person speak complete nonsense or would he/she appear to be a sensible person? What explanation would he/she provide for essentially putting the money between the mattresses?
Has anyone on this site met one of these people? What was your impression? I would love to hear about it.