"Mutual funds urge calm amid market turbulence.... Independent financial planners say there's wisdom to the fund companies' message of not panicking.... "[For the long-term investor], the smartest move to make right now is probably to do nothing" -- Vanguard chief executive Bill McNabb says in [a] video"
You FUCKING LOOTERS CAN NOT have it BOTH WAYS!!!!!!!!
What you are really saying is LEAVE OUR MONEY in YOUR HANDS -- even if you STEAL IT ALL!!!
Of course, wees Amurkns are so stoo-pid we don't know when a bowl of shit is being served up to us!!!!!!!!
"Mutual funds urge calm amid market turbulence" by Ross Kerber, Globe Staff | October 2, 2008
Don't panic! In a what could be the biggest marketing push ever in the mutual fund industry, big companies are reminding their clients not to be jarred by the wild stock market swings of recent weeks. They're pitching the conventional wisdom: Plan for the long term and don't overreact.
The funds industry has launched its largest advertising and outreach effort ever. To be sure, even before the current rush, the industry was in the midst of a record advertising period with the top five fund complexes spending $120 million on print, television, and Web advertising in the first six months of the year.They got $120 million to BLOW on ADVERTISING, but the credit markets are frozen up!!! PFFT!
Independent financial planners say there's wisdom to the fund companies' message of not panicking - assuming the investor previously has limited risky investments. But sitting tight could be hard to do, or the wrong course, for people with too many aggressive positions, or for those who are close to or in retirement and have less time to make up for losses.
To calm investors, the firm has been sending an online video to companies whose 401(k) accounts it manages, including the Globe. The video features Vanguard chief executive Bill McNabb trying to reassure - and sympathize with - investors. For the long-term investor, "the smartest move to make right now is probably to do nothing," McNabb says in the video. But, he acknowledges, "There's no question that from an emotional standpoint, doing nothing can be difficult." --more--"
