"Hope" is the thing with feathers
As last year began, I still had my faculties. The drummer I was marching to kept me in step. On January 23, I bought into the maw of the panic. I made money.
Back in October, 2007, I'd speculated about a global recession, but I didn't act on my surmise. In January, I decided we were in it. Clearly, I had no idea what a global recession would be like.
It seems centuries since I sold a paltry amount of GOOG at 650 and fantasized about buying it back under 550. But I couldn't wait for that. I bought it back, three weeks later, at 628.
In April, I went completely to cash. No GOOG, no nothing. But, as mid-year approached, everybody was saying that Hallelujah Land was just around the corner. I was down 9% on the year and my inner Dundee was screaming, "That's not a crash!", but I decided that the nonsense had gone on long enough. I bought value funds. I bought Heebner.
Then all the wheels came off and I learned what it must have been like to be on the Titanic and slowly come to the realization that we weren't going to just limp back to Southampton. It was like buying Heebner. All the charts went vertical. I started selling into the maws of panics.
Now, like everybody else, my fortune is greatly reduced. And now, the sea has suddenly calmed and I'm leaning the wrong way again. I have only myself to blame. I did the right things. And then I undid them.
There are many ways to screw things up. This is just one of them.