Even if you’re on the right track, you’ll get run over if you just sit there.
Chuck Randall was a smart guy. He had a Ph.D. in business and was a professor at a major state university. When he saw his retirement funds drop 20 percent between September and October 2008, he realized the market could go a lot lower. He thought he probably should get out of stocks, but that October turned to November and the months went by. By March 2009, Chuck hadn’t sold a single share, but his procrastination had cost him dearly. Between September 2008 and March 2009, his portfolio had lost 54 percent of its value.