First half of '08 gone, investors should weigh options

NEW YORK -- After a bloody first six months of the year, some investors who had been holding out for a resurgent second half are wondering what to hope for.

With the Dow Jones industrial average losing 14.5 percent in the first half -- its worst start since 1970 -- it's understandable that some stock owners would be ready to break from the market altogether.

Indeed, the question on some minds seems to be not where to invest but whether to invest. Market observers say it's important to remember that sometimes-scary pullbacks can overshadow segments of Wall Street that are still making money, and that making even minor adjustments to a portfolio can leave it stronger in market downturns.

But Wall Street's swoon has prompted investors to pull huge sums from stocks.

By Tim Paradis
THE ASSOCIATED PRESS