Wednesday, September 09, 1998

How An Old fool Became a Fool
by Kent Lowry ([email protected])

I had always been one of those who believed that a person should stay invested in equities no matter how old he was, but I became worried as I approached retirement age and started believing the "talking heads" as they warned of a serious downturn in '96 (I'm talking 1996, not 1896).

So on Dec. 31, 1996, I sold everything and put 100 percent of my money in a money market fund. I sat on the sidelines earning my 5.1% for the first 6 1/2 months of 1997 as the market roared up and left me in the dust.

I found the Motley Fool on the web and began reading (and learning) in earnest. I started my Foolish Four portfolio on June 24th, and watched as it climbed out of sight. But glory didn't last long, and I was brought back to earth when the October correction set in.

To make a short Fribble shorter, I ended the year down 5.5%. As I pen this, I now have three Foolish portfolios that were up 25% before the recent downturn. (They are still on the plus side by 5%.) Am I going to sell and sit on the sidelines? No way! You see, I'm only 60, and with 25-plus years to go, I'm in this for the long haul.

[Hey Fools, why not pen a Fribble, yourself? We welcome submissions from readers. Just click here and read the "What's a Fribble?" item, pen a short masterpiece, and send it off to TMF [email protected].]

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