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Actually, his name is Bill Miller, and this former wunderkind of the investment world did, indeed, have a great fall after his 15-year winning run at Legg Mason.
Here is some of the latest news regarding old Bill:
you must have literally never read any sort of investment or personal finance magazine. in the 2000s, his name came up constantly. maybe i just read too much, i thought his name was pretty common knowledge. Legg Mason funds are(were) quite popular due to his streak.
the market may have made up all of it's losses, but few, if any, individuals have. i'm not sure what you're referring to in 2009. the DJIA? S&P? some other broad market measure? Or specific funds?
the point of discussing 2008 in the discussion about retirement is that anyone who was retiring between 2008-2013 was basically hammered. even target date funds, which were supposed to dial back risk substantially when nearing the target date, took a huge beating. Turns out, they were all far too exposed given the target dates.
I increased my 401k contributions after the market crashed, cause i'm young and have a long term outlook. but the overall lesson is, you almost can't be conservative enough when handling your retirement savings and goals, especially as you near retirement. most people aren't equipped with detailed enough finance knowledge to navigate the 401k world intelligently.
I guess thats not really how I have learned about investing by reading finance magazines. im probably more up on popular money managers now; but Im more interested in learning about companies, sectors, technologies, news etc. than what the financial experts are saying generally. why choose between the major indices? pretty much all of the equity ones were down sharply in 2008 and then up sharply in 2009. most equity funds move similarly, unless you are investing in specific sectors. of course, the balanced funds had less sharp drops and less sharp gains.
there is no problem discussing 2008, but once you are looking at 2008, you should also look at 2009-2013.
they would be better off staying the course rather than panicking and selling or having too much fixed income in your portfolio that would severely limit growth. defined contribution pension shift risk from the company to the employee. that may seem bad, but I don't think a company should take on such risk; its not their business. they should have x amount that they are giving in compensation and once that's given; that's their obligation.
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