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Money management

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Lately I heard that a guy lost $120K on FNM. After 10 years of working hard, all he left now is just something in 401K. He is thinking to withdraw some of this to cover the loss. He thought FNM is low enough now and should rebound from here. What do you think?

Saturday August 23, 2008 : 05:49 PM

Comments (1)

Thomas Armistead:

I tried real hard to come up with something snappy but drew a blank.

I wouldn't sell FNM with a pack of short-sellers in attack mode - I would hang on and hope for it to blow over.

But I would not tap a 401K to send good money after bad.

Posted by Thomas Armistead | August 27, 2008 10:24 AM

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