I didn't expect this to turn into the finance forum, but that's okay. As stated, my guess was an educated guess based upon what I see at work. You're right, it's virtually impossible to "beat" or "time" the market over the long term, but there are points in time when it's wiser to jump into the market. People who bought after the '87 crash made a killing if they held on for a few years. People who bought tech stocks at the beginning of 2000 lost their shirts if they held on through the end of the year. Sure the market is devalued because of people taking capital losses for tax reasons, but it's more than that; we're still in a recession. When it picks up, people who bought now will have picked up great bargains. Tech stocks will probably never reach the levels they reached before, but certain blue chips and many small cap stocks will outperform the market in the not too distant future. Again this is an educated guess. I'm not claiming to be Miss Cleo. As for bond, yes, it's good to have some bonds in your portfolio (preferably in the form of a bond mutual fund), and yes, bonds have outperformed stocks this year, but with interest rates being set so low, money is moving out of bonds. Go to fidelity and check the three month performance of many of the bond funds out there now--many show diminishing returns and some ven negative returns. I don't think bonds can outperform stocks with interest rates so low. I just base that opinion of my experience in investing for myself and my former experience as a broker/trader. Finally, as for IPO's, yeah fine, Prudential did well, but check out the number of IPOs in general compared to last years, and check out the performance of smaller companies that have gone public this year--their performances are not very impressive. My $.02