22 of 30
Jeremy Siegel: Sticking through the shocks
Jeremy Siegel: Sticking through the shocks
Russell E. Palmer Professor of Finance at Wharton; senior advisor of WisdomTree; and author of "Stocks for the Long Run"

After that weekend, the Primary Reserve Fund broke the buck, and I can remember feeling very strongly that Bernanke and Paulson would have to stand up and basically insure money funds.

It's a $4 trillion market and a major panic there would have totally disrupted the financial markets. I was really anxious. For the first time, I was really saying, "My goodness, we are in a credit meltdown."

... As an advocate for long-term stock investing, that time was, to say the least, a trying period. But it was a big, bad bear market. One of my colleagues told me that someone had called him to say, "I got Siegel's 'Stocks for the Long Run.' I'm throwing out that concept. All the book is good for is a door stop now."

But the truth is you don't have to throw it out. As we see this tremendous recovery taking place, we're reminded that the market gives good returns for those who can stay in through these periodic shocks. It's going to go up and then crash again. So you have perma bears and perma bulls, and every so often they're going to hit it.

NEXT: Chris Whalen: How naïve we were
Last updated September 14 2009: 3:19 PM ET
Email | Print | Share  |  RSS
google my aol my msn my yahoo! netvibes
Paste this link into your favorite RSS desktop reader
See all CNNMoney.com RSS FEEDS (close)
More Galleries
50 years of the Ford Mustang Take a drive down memory lane with our favorite photos of the car through the years. More
8 CEOs who took a pay cut in 2013 Median CEO pay inched up 9% in 2013 to $13.9 million. But not everyone got a bump last year. Here are eight CEOs who missed out. More
10 best convertibles now that spring has sprung It's finally time to put the top down. Here are our 10 favorite rides for the warmer months to come. More
Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.