It is pretty clear now that small caps are a good bet for the month. All of the ones I'm in were in the green today which is comforting to see. The best time to buy them is probably mid-late december when the tax selling is at a peak and they are at inexplicably low prices. Last year could have been the best year for the bottom pickers due to the bear market, assuming 2009 doesn't end worse. Even if 2009 sees lower lows, there might not be as pronounced selling due to the fact people are used to losing money.
If you're down 50% and you lose another 50% that second loss doesn't hit you nearly as hard. This is my first bear market, and a nasty one at that, but it'll pass. This isn't Armageddon. This isn't going to be a decade long.
Short term: I could care less.
Long term: Up.
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