Saturday, December 13, 2008

The stock market is getting scarier by the day; get your money out now and into money market funds

A friend of mine I've been encouraging to get out of stock growth mutual funds thankfully finally wrote me and asked about safe harbor.

The friend has heard the same reports as I have ... Dow 5,000 or 4,000. And each day brings new layoffs and the first two quarters of 2009 will bring the worst financial reports for corporations.

Still, all the talking experts on CNBC and other financial cable networks love to use the phrase "bottoming process". That's what the market supposedly is in. That's bullshit. They want you to put your money in the market or keep it in there because that is how they make their money.

To my friend, I am recommending money market funds, which the Treasury Department is guaranteeing. Get back into the market next summer and remake the money you lost.

But please, don't lose any more. Because the market is heading down, big time.

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