NYT:Switching to Cash May Feel Safe, but Risks Remain

ニューヨーク・タイムズの読者人気投票で上位にある記事。株価大暴落の中で「早く売り抜けて現金化して、良かったな〜」と思っている人たちは、結果として損をするという：

Your Money - Switching to Cash May Feel Safe, but Risks Remain - NYTimes.com: "A guarantee of a small loss may sound good right now. But if you’re not bailing out of stocks once and for all, how will you know when it’s time to get back in? The fact is, any peace of mind you gain by being on the sidelines now will turn into a migraine once you see how much you can harm your portfolio over time by missing just a bit of any rebound.

H. Nejat Seyhun, a professor of finance at the Ross School of Business at the University of Michigan, put together a study in 2005 for Towneley Capital Management, where he tested the long-term damage that investors could do to their portfolios if they missed out on the small percentage of days when the stock market experienced big gains.

From 1963 to 2004, the index of American stocks he tested gained 10.84 percent annually in a geometric average, which avoided overstating the true performance. For people who missed the 90 biggest-gaining days in that period, however, the annual return fell to just 3.2 percent. Less than 1 percent of the trading days accounted for 96 percent of the market gains."

おいらは大暴落が続く中、半分ぐらいは「うまく」売り抜けて、半分ぐらいは売り残した感じなんだけれど、良かったのか悪かったのか、分からなくなってしまった。

字引を引きながらでも、熟読おすすめ。大切なお金に関することだから。

でも、こういう説得力のある良質の記事が出るのは、さすがニューヨーク・タイムズ。ニッポンのメディアは遅れているぞ！