My dad has a 401k, where most of his money is tied up in the stocks.
He moved it to long term/ low risk/bond focused a few weeks ago.
However, with the obvious insider trading that took place today, he lost out on 5k, on top of the money he lost this whole year.
I know no one can predict the market, and I don't know a ton about stocks, however, in times that seem unprecedented, what's the best move for his $?
Should he just hold long term, banking that the MAG7 will consolidate more wealth and stocks will skyrocket again like after covid, or should he take penalties to diversify into foreign markets/index funds/other avenues?
Any advice for a noob would be much appreciated. Thanks!