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Published on: 5/5/2003
Last Visited: 5/9/2003
However, those predictions proved to be wrong, said Bryan Dooley, senior portfolio manager in the Stuart office of Wilmington Trust.Investors, who cashed out of the stock market because of the war, missed a key rally in prices, he said.
"This is an important example of how short-term thinking can set you back," said Dooley, who manages about $200 million in assets.
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Initially, fears about that war prompted stock prices to sell off, but investors who used that scenario to purchase shares and maintain the balance between stocks and bonds in their portfolios were ultimately rewarded by the double-digit market rally during most of the 1990s, Dooley explained.