I would keep my rig!
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I never got out, but I think it's too early to raise your proportion of equities. The world economy continues to take hits and the US equities are still shaking out, so I think it's still maybe a little early to take a large position relative to your net worth. Some time in 2009 might be ideal. At this point, leg in with a little investment each month.
Look at high quality corporate bonds or high quality stocks that have reliable dividends. The yields are very high for recent history and way better than you can do in bank deposits and money funds.
It could be several years before your profits allow that "better" equipment down the road, so have a strategy for enjoying music while you wait.
From now till March 15 investing is a total gamble. Until Obama is inaugerated and has authored some legislation it is way to early to know how the market will react, even after he has asked Congress to pass such and such or confirm so and so we will not have any good answers till we see what Congress does. Hence, keep your rig but be prepared.
Sell gear and buy stocks? You got to be kidding. You ain't seen nothing yet. China just announced their sitution is dire and the Nightly Business News did a piece on Chinese unemployment breaking the social contract (pay me the money and I'll keep my mouth shut).
My regret is that I didn't buy some more gear before the crash. I'd rather be down 30% after a spending spree and end up with something to enjoy rather than lose 30% in a puff of smoke.
Hopefully I could get a large gainTo state the obvious, long-term the market is more likely to go up rather than stay down.
get a large gain and buy better equipment down the roadHmmm, not so fast. You'll have to recoup the loss incurred selling yr equip used in a down market... And make enough to cover the added value of buying more expensive in a bull market...
Getting your financial advice from an audio website has got to be one of the dumber things you could do. You'd be better off getting audio advice on a financial website...
Perhaps but sometimes those in the biz can't see the forest for the trees.
FWIW: I warned everyone here on these forums several times starting fall of 2007 - my advice was to sell stocks and portect your nest egg. One thread where many people hotly dismissed my dire warnings as "nonsense" was even erased.
It may be smarter to get your financial advice from this website than all those genuius financial services advisors. Weren't they the guys telling us the economic fundamentals were sound just a couple months ago!
The economists I listen to and trust have been forecasting this exact financial tsunami for years, I got out of the market a couple years ago. These economists are predicting 5,000 Dow and up to 25% unemployment rates. Perhaps this will not happen, but they've been correct up to this point. It also appears we are heading for a deflationary spiral, all financial instruments may be headed downwards.
To sell now would be selling in a down market and buying now is buying into a market that's yet to reach bottom. Should have sold two months ago, buy stocks at the bottom, 5,000 or ?
Market hasn't bottomed out yet. I said 3 years ago it was overinflated and would be down to 7500. (Not to pat myself on the back, but also told my associates about the mortgage issues we currently face). Having had hit 7500 Thursday, now I se 6000-6500 as the bottom number. Its ugly out there. Cash is king. Commercial paper for me, heddging with bonds.