should I sell my mutual funds or wait?

Question

Since 02/27 I lost over $2000..I invested in Fidelity mutual funds: FSDAX ,FDVLX,FDCAX,FSLVX and TSVOX
I don't know what to do..should I sell my mutual funds or wait??

Answer 1

Now would be the worst possible time to sell. (Of course that does nothing to stop MOST people!)

The only valid reasons to sell would be:

i) You want to retire tomorrow, and will get enough from the sale to live on forever....

OR

ii) You honestly believe that the stock market is finished, companies will NEVER make any more profits, and consumerism is finally dead. Long live Stalin!

While your question makes no sense, sadly there are millions of investors asking themselves the same silly question


That's how & why others make money by BUYING when the market goes down, not selling!

Unless you really think the world is ending (in which event the biggest sack of cash would be worthless anyway!) thwn dips are a time to buy, not sell!

Answer 2

Wait. If you sell now you will only be buying a loss. Mutual funds will do good over the long term and time is the key. You cannot let down days get you too exited. Forget about it or put even more into them now and you will be doing well in the future.

Answer 3

There are several considerations for you to ponder:
The reason you started to invest in the first place.
Your age.
Your income.
How did your mutual fund perform for the last 2 or 3 years before you invested.
Have you looked into other mutual funds and their performance.
If you don't need the money right now and you are relatively young, I would suggest that you let it ride and recover some. You know the rule of thumb is; 'what goes up must come down and what comes down must go up again'.

Good luck.

Answer 4

I've lost more than that. I think I lost around $4000 in just one day last Tuesday. It hasn't been pretty!!

I know it's no consolation but you're definitely not alone out there.

You've got some decent funds. I'd say stick it out. I have funds and stocks both. It's up to you though. It's hard to stick it out at times like this and a lot of people are panicking and selling. I'm just not one of them.

Answer 5

Sell everything you own and move to Nicaragua. You can live here on $800 a month, why wait to retire?

Thats what I did last year - its been a blast.

Land with mountain views for $600 an acre. 150 year old 3,000 sq ft home in central Leon for $90,000 You gotta be crazy to keep working. Wait for what? You might die tonight, then what?

Answer 6

Stick it out. what percent of your portfolio is $2000. How much do you have in cash or bonds?

Answer 7

you should of put stop losses on them. 2k is WAY too much. put stop losses on them tommorrow and let the market take you out.

Answer 8

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