Stock market blues
#1
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Stock market blues
AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA AAAAAAAAACCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC CCCCCCHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHH!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!!!!!!!!!!
OK, I just needed to vent a little. I feel a little better now....
I have lost enough money in the last year to build up a couple of really nice Miatas. Damn...
Come on rally!!!
OK, I just needed to vent a little. I feel a little better now....
I have lost enough money in the last year to build up a couple of really nice Miatas. Damn...
Come on rally!!!
#4
On the bright side, I have a big chunk of money that was sitting in a cash account because I was not sure where I wanted to invest it. I still believe in the market and like you, do believe it will go back up. When it starts, I'll be investing that money like crazy.
#8
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This kind of irrationality just astounds me.
I haven't sold anything yet (except for a REIT that seemed to have peaked at about +23% after 2 years) largely because I'm the sort of guy who would commit hara kiri if I sold at the bottom.
On the other hand, who the hell knows where the bottom is? I'm out about $70k on paper just at the moment, and while I'm not hurting for cash, there's no reason for this to be going on right now.
I don't see how the fundamentals have changed.
Sure, banks are collapsing. But we all knew that smoke and mirrors were the only thing holding the mortgage market aloft, so why the big surprise?
And now, my tax dollars are going to be used to bail out all you folks who exhibited bad judgment by taking out zero-down, interest-only ARMs a few years ago and were "surprised" when your monthly payment doubled while your home value halved.
Nationalize the financial system, see if I give a damn. But when did it become "OK" to reward stupidity of that magnitude?
I haven't sold anything yet (except for a REIT that seemed to have peaked at about +23% after 2 years) largely because I'm the sort of guy who would commit hara kiri if I sold at the bottom.
On the other hand, who the hell knows where the bottom is? I'm out about $70k on paper just at the moment, and while I'm not hurting for cash, there's no reason for this to be going on right now.
I don't see how the fundamentals have changed.
Sure, banks are collapsing. But we all knew that smoke and mirrors were the only thing holding the mortgage market aloft, so why the big surprise?
And now, my tax dollars are going to be used to bail out all you folks who exhibited bad judgment by taking out zero-down, interest-only ARMs a few years ago and were "surprised" when your monthly payment doubled while your home value halved.
Nationalize the financial system, see if I give a damn. But when did it become "OK" to reward stupidity of that magnitude?
#9
I have a feeling this is going to be another 20+ page thread....
but seriously, why the **** are we supposed to pay for shady *** house sales, with idiots that could never afford the houses and ***** realtors/loan off.'s that pushed them to do it just to make lots of money....
we're going down the *******
but seriously, why the **** are we supposed to pay for shady *** house sales, with idiots that could never afford the houses and ***** realtors/loan off.'s that pushed them to do it just to make lots of money....
we're going down the *******
#11
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On the plus side, I do have about $35k in free cash sitting around at the moment. Considering that the market is essentially a bargain-bin right now, I'm tempted to wait a week or two and spread about $25k of that uniformly across the Dow components. (Well, except GM and EK. I just don't like those two on general principle.)
#15
Silver is a commodity, and thus its price will drop in a recession as demand goes down.
The same is partially true for gold, but supposedly if gold breaks $950 and the reason for it is the central banks are buying, then it's gonna go up up up.
http://the-moneychanger.com/articles...my/exter.phtml
The same is partially true for gold, but supposedly if gold breaks $950 and the reason for it is the central banks are buying, then it's gonna go up up up.
http://the-moneychanger.com/articles...my/exter.phtml
#18
+1. I say let the **** hit the fan in a sense. I know that it will have a negative impact on everybody and all and things will be bad for a while but I think it needs to happen to get everybody's attention and in the end it will be for the better. Kinda like gas prices. A spike here and there and people bitch but they don't change their ways. But then gas goes up and up and stays there and it seems it's only gonna get worse and people get worried and start consuming less gas. $100 a barrel oil didn't get people's attention. $150 did. Let some people loose their homes. It will get people's attention and history will not repeat itself.
#19
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I just watched a Charlie Rose interview with Paul Volcker, the former US Fed Reserve Chairman from 79-87 (Before Alan Greenspan). Great interview. It was a great summary discussion, and more informative and more useful than a lot of what I have seen so far. Check it out if you want some healthy perspective on all of this.
I am still bullish over the long term and am staying in. Hell, I'm going to buy all I can. Simply put, the market forces and the leadership are probably going to clean the financial garbage out of the system over the next year or two, get back to fundamentals, and the US markets will end up being solid for the long run. It is just going to be painful for awhile.
In the mean time I am going to continue to contribute to the economy. I just bought a Hard Dog DD roll bar and side bars. They should be here next Monday
I am still bullish over the long term and am staying in. Hell, I'm going to buy all I can. Simply put, the market forces and the leadership are probably going to clean the financial garbage out of the system over the next year or two, get back to fundamentals, and the US markets will end up being solid for the long run. It is just going to be painful for awhile.
In the mean time I am going to continue to contribute to the economy. I just bought a Hard Dog DD roll bar and side bars. They should be here next Monday
#20
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1- Leave your current 401k completely alone. Start a new one with your new employer. (This is what I did when I left my former employer.)
2- Roll the balance of your current 401k into the 401k program of your new employer. No tax, no penalty.
3- Roll the balance of your 401k into an IRA. Pay income tax on the rollover, with the understanding that the money will be tax-free when you withdraw it at retirement. No penalty.
4- Cash out. Pay tax and penalty. Bad move.