Clark recently provoked heated listener response when he revealed his portfolio was down 3.8% for the year. Some thought he was lying through his teeth, while others thought he was lying about how his portfolio was invested.

Well, you wanted clarification, you got it.

The 3.8% figure was only through Aug. 31. Today, Clark pulled up his account again and saw…drum roll, please…that he was down 10.06% through October 8. Do you feel better now?

Many of you have asked for Clark to again detail his investments. Because of his age and income level, Clark has 37.5% in tax-free municipal bonds and bond funds. The other 62.5% of his money is divided out among big company stocks, small companies and international markets (Europe, Japan, Australia and New Zealand). The biggest hit he took over the year has been in his international holdings.

But consider this: If the average 401(k) is down 20%, why is Clark only down 10%? In a word, dollar cost averaging. Each month like clockwork, he buys more shares at a lower price. When the market recovers, his gains won't keep pace. But he reduces his risk by putting money in over time -- instead of all at one time.

Let's take this opportunity to get a little market perspective. Syndicated financial columnist Kathleen Pender reports that there have been 18 bear markets (defined as a 20% drop) since the modern market era started some 80 years ago. The average bear market decline has been 36% -- which is exactly where we're at right now.

Since the Great Depression, the market has fallen by 50% or more in 4 individual instances. Remember the last time that happened? It was in 2000-2002! That was just 6 years ago. So it's good to keep perspective. Clark believes we are much closer to the bottom than we might realize. You know you're bottoming out when everybody is afraid.