After I read this WSJ article I realized that we are in the buying opportunity of a lifetime. That is if you are a contrarian, emphasis mine. =)
The ups and downs of the market are prompting more retail investors to abandon buy-and-hold strategies in favor of opportunistic trading. Some want more control over their money, so they are fleeing funds and advisers -- not to mention the feelings of helplessness raised by recent months' losses. Some are attempting to recoup their losses, while others are stepping back into the markets after a recent string of stock gains and better-than-expected economic news.
But others say things are different this time. "The problem I have with the buy-and-hold strategy is that it's a bull-market strategy," say Matthew Tuttle, a financial adviser in Stamford, Conn. "In the bust, you give all of your profits back." Mr. Tuttle has recently taken a more active approach to trading. While short-term investors are likely to face higher tax bills -- since short-term gains are taxed at higher rates than long-term gains -- he notes that some people who incurred big losses last year will be able to carry those losses forward to offset taxes in future years. [By JANE J. KIM]
Things are different this time? I can think of two times when "things were different" and then collapsed. Dot-coms and Real Estate.