Thank you all for your comments. They helped the discussion a great deal. Mrs. T and I are meeting with the dutch uncle who manages our investments Friday.
At the beginning of 2009 the DJIA fell from almost 9000 to the mid 7000 range, rose to almost 9000 fell and rose again in the same range. I made a very expensive wager when the Dow was at 8900 the second time, that we would see the Dow at 6500 before we saw 9500.
I won, although I'm not terribly proud of that. Now the Dow is back in low 8000 territory again.
In my view of the world, the big banks are still broke, massive layoffs are still occurring, another commercial real estate lending shoe is about to drop, housing prices still fall. The historian in me remembers that during the Great Depression most folks didn't go broke at the crash. Shortly after the crash, the NYSE rallied for almost 8 months. Then the bottom fell out. Not likely to happen again, but...
For the time being I am unhappily content to sit on the sidelines and watch our humble cash reserves dwindle. Mrs. T feels we are missing great investment opportunities.
I badly want to play, but needed a reason to. That's where you came in.
5 hours ago