4 of 7
BACKNEXT
Waiting out the downside
Name: Gerald Ray Bruce
Age: 76
Hometown: Kingston, Okla.


I wanted to jump out of the market as soon as it started to slide, but my best advisor said "wait out the downside until you feel it's getting close to the bottom and then buy, buy, buy." I bought some as the market was falling, some when the market bottomed and some when it started to rise again.

I had lost 65% of my portfolio by March 2009, but have since gained back more than half of that. I also bought more as the market started to recover. My greatest losses were in Citigroup, Alcatel-Lucent, Level 3 Communications and Fannie Mae. El Paso, Motorola, Ford Motor and Bank of America pulled me back up.

One year later, my total portfolio is nearly 10% higher.

NEXT: Staying the course
Last updated September 14 2009: 2:51 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
What being middle class means to me For some Americans, middle class means feeling secure. For others, it's just the opposite. More
The 10 most valuable global brands Apple has the most valuable brand in the world, up 67% over the last year, according to a BrandZ ranking. More
A life's work: Photos by Mary Ellen Mark The subjects of Mary Ellen Mark's photography ranged from celebrities to world leaders to those at the fringe of society, including prostitutes and the homeless. More

Special Offer