Advice from Old Curmudgeon

Dear Old Curmudgeon,

Every time I check my RRSP statement, it is smaller. It makes me want to cry. I don’t know what to do. Do you think it’s time to get out of equities and move into something safer? Sincerely,

Financially Concerned

Dear Financially,

You are the exact kind of person that is bound to generate profit… for other people. Your weak kneed, lily liver attitude may be the problem; on the other hand, it may be a stupidity issue.

When everyone was making a profit, you followed the crowd and bought at the mountain top of the market. Now things are tough and you’re ready to play it safe… by selling at the deepest valley in the market.

Yes, it’s time for a gutless coward like you to get out of equities! Sell your shares directly to me. I’ll save you a commission.

On the other hand, this could be an opportunity for you. Maybe, instead you should get out your wallet and take advantage of one of the many idiots just like you. Of course, you’ll have to wipe the tears from your eyes first. You may have to straighten up and fly right. It’s really up to you.

Old Curmudgeon