This post is sort of in response to the thread started by Kathianne about today being a bad day on wall street due to the Bear Stearns Collapse and the subprime issues.

I want to know who this is going to be a bad day for.

Yes, the value of my 401(k) will drop. Yes, the value of my IRA will drop. Yes, the value of my mutual funds will drop. So what?

There are only two types of people that will truly be hurt by the plunging markets, 1) those who panic and sell and 2) those who are forced to sell to cover other debts.

Don't be either one of those kinds of people. The market will rebound. As the saying goes; buy low sell high. If you didn't sell on Thursday... don't sell today. Whatever you do... don't panic. Let the market absorb this bad news from Bear Stearns. When it does things won't look so bleak and the market will recover. I promise.

If you are one of the second kinds of people... well, then I have one piece of advice for you... you should not be in the market in the first place. Wait for the market to rebound and then GET OUT!

Now... as for it being a bad day, I look at it like this today is a great day to buy! If you have some money you were thinking of investing and have a company you wanted to invest in... well, now is the time to think about getting in. Don't wait until the market has rebounded.

I wish I had some extra cash laying around, because now would be the time to buy.

Immie