Jim Cramer just threw in the towel.

[randomness]

It might be time to buy. :)

From http://gawker.com/5059535/jim-cramer-begs-america-to-abandon-hope:

Whoa, Jim Cramer has fully turned around as much as a man can possibly turn around! The shouty CNBC (poor) stock picker—who as recently as last November was trumpeting "10 Reasons to Be Bullish" ("1. The stock market is cheap")—went on the Today show this morning to virtually beg Americans to pull all the money they might need in the next five years out of the stock market, no matter what the cost. He looks like he's about to cry. This will be one of the defining moments in the media narrative of our nation's impending financial doom.

Comments

[r-ness.livejournal.com]

One thing I like about TIAA-CREF is that they're very clear about what they invest in. During the recent panic when people were concerned about money market funds investment in commerical paper, there was a lot of talk about how people didn't know what their money market funds were invested in because the funds were being cagey about their holdings.

I was surprised, because all I had to do was download cref_soi.pdf from TIAA-CREF's website to see how much commercial paper CREF's money market fund held. (Quite a lot, actually, which wasn't that reassuring, but at least I knew.)

but you should put as much as you can afford to

Up to the legal limit, which is $5,000 (if you're under 50) or $6,000 (if you're 50 and above). (If you made less than that in earned income, you can only contribute as much as you made in earned income.)

[meepodeekin.livejournal.com]

Yes, thanks for correcting. I was assuming that someone fresh out of grad school had less than $5000 to invest each year, but that could easily be wrong.

I'm happy with TIAA-CREF for their honesty, even when they lose my money. I also had some work retirement money with Vanguard invested more aggressively whose fate I refuse to check on. I can wait until the quarterly statement to find out.