Sell Now, Regret It Later

Yeah, the Dow Jones industrial average closed down 128.11 points yesterday — coulda been a lot worse. Today’s already not looking much better, but in today’s Los Angeles Times, Don Hodges of the Maple Avenue-based Hodges Fund says the sellers are making a big mistake. As in: “I can tell you after being in this business for 48 years that every time I’ve ever seen that it’s been a mistake. On 9/11 or in 1987, people who jumped out after the market had been bad for a while came to regret it.” This applies only to those invested in more than comic books, baseball cards and action figures, which leaves us out completely. –Robert Wilonsky