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Play it safe

March 11, 2009

Re "Sold on panic," Opinion, March 6

It's funny -- I had the same experience as Joe Queenan with my so-called assets manager when the Dow first plunged late last year. When I called to squirm and rant about my AIG holdings and why I lost everything in Washington Mutual, I was told the market was merely reacting to the new leadership, to take a deep breath and think about buying more Google, for soon the bull would rule the roost. Being the compliant fool in this jittery game of nerves, I hunkered down and braced for the impact. But when, pray tell, can I bob up for air? I am still crouched, and spooked by every investment I make.

The financial advisors are wrong. It is easy for them to make flippant pronouncements about stock trends -- it is not their money. Although I understand resorting to euphemisms to mask the deepening pain, there is the greater duty to be truthful.

This is not the time to be optimistic or even cautiously confident about the stock market. It is a time to be prudent and sober.

Maya Teague

Camarillo

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