I meant to get this posted last week, but better late than never:
30 Years ago:
“Wild horses couldn’t drag me back into stocks.. Rather than gamble in this market, I might as well go to Las Vegas.” So says Curtis Beusman, owner of a sports-medicine clinic in Mount Kisco, N.Y., and he is not talking theory..During the past several years, Beusman has dumped $300,000 worth of stock, more than 80% of his holdings..He is far from alone..Eleven months after last year’s crash, most individual investors are avoiding stocks as if they were poison.. Some Wall Street executives fear that many of these investors may be leaving the market for good, to the detriment…
Poor Mr. Beusman. If only he invested into a the S&P 500 index, his $300k would have compounding with dividends reinvested into $5,091,469.81. (You can play with the numbers in a return calculator).
Had he set up even a simple 60/40 balanced portfolio, it would be worth about $3 million dollars today . . .
Buy Stocks? No Way!
By Barbara Rudolph Monday,
Time Magazine Sept. 26, 1988