what's changed, page-23

Kiril,

excellent post. It is all about risk/reward. As for me, I am not sophisticated enough to pick the bottom and my risk/reward button got pushed earlier. However, through buying and selling in the swings increased my exposure to a higher level then my entry point, at no extra cost.

I have nothing against traders and gald they made some cash. I am a long-term holder, which gives me an entirely different risk profile and investment objectives.

I also agree that long-term holders vary in their appetite for risk. I have invested what I can afford to lose (knowing that I could lose it all). However, it is the enhanced risk which may lead (if it all works out) to a enhanced return.

Others may not be able to afford the loss or are adverse to losses and seek to enter when the future outlook is more secure or stay away alltogehter. This is an understandable and appropriate decision IMO.

I see no right or wrong any anyone's approach, as in the end we are the ones responsible for that decision.

Once again an excellent post, as all views add balance to the ongoing dicussion here.

Cheers