In recent years it has become fashionable to bash the old saying, "Sell in May and go away". Yet for the last few years it has proved to be better advice than "Sell in May and go away is the wrong way to play; be prepared to buy stocks every single day!" which someone named Jason posted last year. Las year, "Sell in May and go away is the wrong way to play; be prepared to buy stocks every single day!" would have been unusually bad advice. Prices declined in May and into June. Stocks sold could have been bought back cheeper. New holding could have been bought for less later. "Always buy; never sell" isn't even possible unless you have a high income or enormous untapped reserves. Many people, myself included, can't buy anything unless they sell something else first to raise the money. Telling someone not to sell in a certain month of the year is just plain stupid. Likewise, telling people never to sell is stupid. What kind of companies would be in your portfolio? Buggy whips? Carriages? Pony Express? Hula Hoops? Bustles? National Video? [more]
It looks as if the market may have reached a local maximum on March 28. It may take a while for the market to reach that level again.
All this month (March) I have tried to post pitches, but I keep getting an OOPS screen when I try to post a pitch. What is the problem?
When I try to post a pitch for BERY, I get the OOPS! screen. He is what I wanted to post: [more]
I try to keep up with Income Tax matters, but some of the new taxes going into effect for next year have me baffled. In particular, does anyone know any details about the new 3.6% tax on investment income? There is little mention of it in the media, and on those rare occasions on which it is mentioned, very little or no explanation is given. Taxes on dividends are already scheduled to go up, and now a new surtax is to be added besides? I have already expressed my views on the double taxation of dividends in an earlier post. [more]