Sunday, October 19, 2008

Some investors grow leery of stocks in grim market

CHICAGO – Judy Katz reached her breaking point with stocks when the Dow collapsed at the start of this month, free-falling as much as 2,400 points and taking a big chunk of her life's savings with it before she hastily cashed out all of her funds.

Even though she's $200,000 poorer and the market's up 5 percent since she sold, the 65-year-old New Yorker says she's happy to be off the daily rollercoaster — and sure she'll never quite feel comfortable in stocks again.

"I don't know what to do," said Katz, who runs a ghostwriting business, after parking her personal nest egg of nearly $1 million temporarily in her checking account this month. "You can't really put the money under the mattress or somewhere where it will get 2 percent."

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