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A place for Get Rich Slowly readers to ask questions
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 Post subject: Profit taking today
PostPosted: Thu Sep 13, 2012 1:04 pm 
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Joined: Wed Sep 23, 2009 9:01 am
Posts: 5205
Well, I took advantage of the post QE3 rally to take some profits! I sold more than half of my "total stock market" funds. Some was switched to tax free bonds but most I'm holding in cash to have for rebalancing at the end of the year. That money has gone up a lot the last couple of years, far above what I expect over the long term so I'm reasoning it won't continue. It's better to take some money off the table.

Hopefully I'm dead wrong and everything keeps going up from here!


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 Post subject: Re: Profit taking today
PostPosted: Thu Sep 13, 2012 1:37 pm 

Joined: Fri May 04, 2012 2:23 pm
Posts: 810
didn't even pass my mind. just rebalanced the other day...

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Bichon Frise

"If you only have 1 year to live, move to Penn...as it will seem like an eternity."


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 Post subject: Re: Profit taking today
PostPosted: Thu Sep 13, 2012 1:41 pm 

Joined: Mon Feb 04, 2008 7:35 am
Posts: 1140
Location: Maryland
I thought about taking some profits, but I'm in for the long haul. Do something fun!


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 Post subject: Re: Profit taking today
PostPosted: Thu Sep 13, 2012 2:35 pm 

Joined: Mon Nov 01, 2010 5:15 pm
Posts: 1094
I considered it too but I'm with Peachy. Long haul for me.


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 Post subject: Re: Profit taking today
PostPosted: Thu Sep 13, 2012 2:55 pm 
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Joined: Wed Sep 23, 2009 9:01 am
Posts: 5205
Yeah, I'm in for the long haul too. But I am also trying to transition to a larger bond allocation since I'll probably retire in about 3 years. I've been looking for a time to make the move and today seemed like a good time. I'm not like most people here in the sense that I have nothing at all against market timing. I do think it is very difficult to do but I'm not opposed to taking advantage of a gift like today.

As for having fun...that money definitely ain't for spending...yet!


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 Post subject: Re: Profit taking today
PostPosted: Thu Sep 13, 2012 5:22 pm 

Joined: Fri May 04, 2007 8:14 pm
Posts: 1555
All I did was hold off on a previously planned purchase today.


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 Post subject: Re: Profit taking today
PostPosted: Thu Sep 13, 2012 6:02 pm 

Joined: Mon Nov 01, 2010 5:15 pm
Posts: 1094
DoingHomework wrote:
Yeah, I'm in for the long haul too. But I am also trying to transition to a larger bond allocation since I'll probably retire in about 3 years. I've been looking for a time to make the move and today seemed like a good time. I'm not like most people here in the sense that I have nothing at all against market timing. I do think it is very difficult to do but I'm not opposed to taking advantage of a gift like today.

As for having fun...that money definitely ain't for spending...yet!

In that case, your timing was probably about the best you could ask for.


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 Post subject: Re: Profit taking today
PostPosted: Thu Sep 13, 2012 6:24 pm 
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Joined: Wed Sep 23, 2009 9:01 am
Posts: 5205
Tightwad wrote:
In that case, your timing was probably about the best you could ask for.


You think? I hope I was early and he market keeps going up and up. What I sold was just a part of what I have.


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 Post subject: Re: Profit taking today
PostPosted: Thu Sep 13, 2012 7:37 pm 

Joined: Mon Nov 01, 2010 5:15 pm
Posts: 1094
DoingHomework wrote:
Tightwad wrote:
In that case, your timing was probably about the best you could ask for.


You think? I hope I was early and he market keeps going up and up. What I sold was just a part of what I have.

Oh! I thought that was most or all of it. Nevertheless, I think you did the right thing.

To be honest, my gut tells me that this little market spurt won't last much longer. Too many black marks & not enough fundamental reform in Europe for a long term turnaround. Political parlor tricks ain't gonna cut it.


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 Post subject: Re: Profit taking today
PostPosted: Fri Sep 14, 2012 10:35 am 

Joined: Fri May 04, 2012 2:23 pm
Posts: 810
mayhaps the door is still open for today....

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Bichon Frise

"If you only have 1 year to live, move to Penn...as it will seem like an eternity."


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 Post subject: Re: Profit taking today
PostPosted: Fri Sep 14, 2012 12:30 pm 
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Joined: Wed Sep 23, 2009 9:01 am
Posts: 5205
Bichon Frise wrote:
mayhaps the door is still open for today....


Just a crack and seems to be closing slowly...


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 Post subject: Re: Profit taking today
PostPosted: Fri Sep 14, 2012 1:45 pm 

Joined: Fri May 04, 2012 2:23 pm
Posts: 810
here's to another door next week! and the week after that! and the week after that........!

_________________
Bichon Frise

"If you only have 1 year to live, move to Penn...as it will seem like an eternity."


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 Post subject: Re: Profit taking today
PostPosted: Fri Sep 14, 2012 4:23 pm 

Joined: Wed Oct 07, 2009 4:16 pm
Posts: 959
I don't even "pay attention" to what's going on; I am in it for the long term...35 years or so more; my blinders are still on.

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Be what you want to attract.


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 Post subject: Re: Profit taking today
PostPosted: Sun Sep 16, 2012 9:50 am 

Joined: Mon May 16, 2011 3:36 pm
Posts: 120
I am like quite a few here, I honestly am not even looking to get out of 99% stock for at least another 7-10 years just due to my age (early 20's.) I told myself around 30 I will re-evaluate where I am, and then possibly start moving small amounts towards bonds (leading the eventual transfer from stocks to bonds slowly over X years.) But will work on more exact details in 8ish years, because we all know things can change over that time period.

Clearly I look at whats going on at least annually, but I decided there's really no reason to mess with allocation in my retirement accounts till then.

Also, note, this is for retirement accounts only, I do have savings/EFs =p.


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 Post subject: Re: Profit taking today
PostPosted: Mon Sep 17, 2012 9:53 am 

Joined: Fri May 04, 2012 2:23 pm
Posts: 810
psst...."profit taking" just doesn't refer to a stock/bond tradeoff.

In other news, that apple is just an animal. Woo-doogie!!!! I'd shed some shares if I owned any....

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Bichon Frise

"If you only have 1 year to live, move to Penn...as it will seem like an eternity."


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