This morning on MSNBC, I heard one of their economic analysts say that

[Skidmore]

that people should take any money they needed for the next five years out of the stock market. Did anyone else hear that. I wanted to post this earlier but because I wasn't in the same room as the television I couldn't see who it was nor did I catch the man's name. Did anyone else see this?

[bklyncowgirl]

1. That was Jim Cramer. Scary news.

[Oceansaway]

2. it was the mad money dude...the same

fukwad that told everyone to invest in this crazy market...

[mwb970]

3. I missed the segment, but the idea seems logical.

I pulled my retirement fund out of stocks a year ago. I'll buy back in once the market hits bottom, and then just ride it back up again.

[Submariner]

14. Likewise

I pulled out and a few months ago lamented that I probably lost about another 5% rise in stock income overall, but after what I've seen lost since Spring, I'm damn glad I got out.

The folks that are 100% in on their 401(k)'s must be heart sick.

[msallied]

4. Just saw a headline that says Treasury bonds are the way to go right now...

Apparently they are soaring in the wake of this crisis.

[Max_powers94]

5. I am out untill next year

[Median Democrat]

6. Actually, People Should Do That In Any Event, Not Just Due To The Crisis

If you need money to use in five years, it should not be in the stock market. Always rebalance your portfolio, and not just due to the most recent gyration of the DOW.

[David Zephyr]

13. That's a very good point you make.

Investments should be long term. You made a very good point that should be obvious, but isn't.

[billyoc]

7. This is only conventional wisdom. Any money that you will need in the short term,

i.e., the next 5-10 years, shouldn't be IN the stock market. That money should only be in bonds or cash.

Nothing alarmist about a statement like that, just common sense. :hi:

[cliffordu]

10. Gawddammmit, Billy. There you go again gettin' all level headed and handing out

non flammible specifics again.

You really can take all the fun out of a moanday mourning.

:patriot:

[billyoc]

12. I hated to do it this time, I really did.

:rofl:

[high density]

8. That's nothing new.

The stock market is not a place for short term savings.

[Blue_In_AK]

9. We took our IRAs out of the stock market

some time ago and have put it in money market accounts where, although we're not making much, at least we've stopped the massive hemorrhaging. This is all really disturbing to people our age (60s) who have worked hard all our lives, paid our bills (and mortgages) and thought maybe we could feel somewhat secure as we've aged out of the workforce.

[David Zephyr]

11. People are taking money out which is why it is falling. At some point, it will be a bargain.

People are parking their money into bonds, CD's, etc.

But at some point, the market will be a real opportunity, too.