Hi Jerry

I believe even a buy and hold investor shold take profits.

For the record I haven’t lost a red cent since this sub prime mess started. If I didn’t take profits, if I didn’t rebalance my allocation more towards capital preservation I’d be down 12%. I don’t like to throw money away.

This IMO this has been the most widely forecasted economic downturns I can ever remember. If fact, most expect this coming earning season to be pitiful.  

If you want to stay with 60% stocks or whatever good luck, good luck with your buy and hold strategy in this environment.