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Freaking out about the markets!

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I hear what ya'll are saying, (especially when it applies to a young person like myself), but trust me, alot of people care and that doesn't make them crazy "the world is ending" fanatics.

For example: Daddy dearest was wanting to retire in about 10 years. Well he's lost a quite a few years of retirement money this year. What does he do if he keeps losing it? Does he just keep waiting for it to rebound blindly? Some people have to look at this closely. Especially if they are close to retirement. I'm not freaking out right now because as you said AA, I still have plenty of time. I'm pissed, because a grand is alot of money to me, but I'll be okay. But if I were planning to retire soon I'd be the #1 person freaking out right now. xdrinkndropX

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I'm more appreciative of his Lethal Weapon work myself (the first 2....that last 2 was just eehhhh to garbage).

I dunno he kinda got on my nerves in LW. Like I wanted to tell him to quite crying and flipping out about everything and just stfu. Mean huh? :lol:

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Hell I'm down $20k+ in the past 90 days. But I don't think about it like that. That would be assuming it was some sort of cash equivalent. Its not. Mutual funds are tiny pieces of companies. Even though my account balance is smaller, nothing has changed. I still own the same % of each company that I did yesteday. Warren Buffett would be proud. LoL.

This goes back to why I think now is the time to really start accruing. You are buying bigger chunks of these companies at these prices. The goal during the accumulation phase (which most of us are in) is simply to accrue stock in these companies at this point- not turn that stock into cash!

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I hear what ya'll are saying, (especially when it applies to a young person like myself), but trust me, alot of people care and that doesn't make them crazy "the world is ending" fanatics.

For example: Daddy dearest was wanting to retire in about 10 years. Well he's lost a quite a few years of retirement money this year. What does he do if he keeps losing it? Does he just keep waiting for it to rebound blindy? Some people have to look at this closely. Especially if they are close to retirement. I'm not freaking out right now because as you said AA, I still have plenty of time. I'm pissed, because a grand is alot of money to me, but I'll be okay. But if I were planning to retire soon I'd be the #1 person freaking out right now. xdrinkndropX

Sweetheart, you think $4500 is something I want to piss away?! Believe me, it is very difficult looking at my accounts right now, so much so that I don't want to look. I don't even want to look at any website with teh let's D-O-W...

If your dad (or others) lost $100000 so far, that means they have at least several hundred thousands to a million left. It is probably advisable for those folks to keep doing what they're doing and when the sell off happens, to put more money in safe money (bonds, Money Market Funds). If your dad tries doing something now, he will lock in his losses.

Besides, your dad was still going to work for another 10 years anyway....not 10 months. You really think he's going to still be out 100k? Yeah it's possible, but after the next upturn, he'll want to look at moving to safe money.

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Sweetheart? I'm flattered and offended at the same time...... :lol:

I know I probably sound crazy to ya'll and you guys know 100x's more about this stuff that I do, but what if there is not another upturn? Is that possible at all?

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Sweetheart? I'm flattered and offended at the same time...... :lol:

I know I probably sound crazy to ya'll and you guys know 100x's more about this stuff that I do, but what if there is not another upturn? Is that possible at all?

You are a sweetheart, truly hon. :)

It is very possible that there is no upturn, but if that possibility exists, get all your guns togethers and stay the heck home. Thunderdome will definitely have arrived and I'll have to leave the People's Republic of New Jersey for real. It just won't be safe here.

You need to look at the history of the Stock Market (if possible, find yourself a chart of the Dow Jones from it's inception to today). Pay close attention to the times of the depression, the 1970s, the 1987 crash, 9/11 era, and now. You will understand what we're talking about.

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I didn't know you guys were talking about this here so I'll copy this from where I posted it in the banking section. I don't even want to talk about percents and dollars because it is too painful, and trust me, it's probably worse than what most of you are posting about (but I'm not going to compare my situation to the grandpa scenario because I realize things could be worse, and I truly feel for our senior citizens who are nearing retirement - undoubtedly they are the ones who have gotten truly shafted. Thankfully I am not old, even if not very young either.) Here it is:

I've been beaten up and almost left for dead under circumstances that were of my own design, so I blame myself and learn from my lessons (don't really want to talk about the particulars.)

Like I said, I was left for dead but not dead. I may have lost more than the average person and also wish I had more to plow back in, but I've got 1. Some still in play, being beaten up in this storm, 2. some cash sitting safely inside from the storm, and 3. I will muster all I can scrape together soon enough and jump right back in when the time seems right. I wish I had enough to risk it by throwing it in there right now but I'm going to just watch what's already in there for right now.

The particulars of trading and investing I have learned over the past few days, weeks, and months, may just be worth the "tuition" I paid, involuntarily, to learn them. I hope so and I look toward the future optimistically once this mess is sorted out and a new market environment dawns.

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It is very possible that there is no upturn, but if that possibility exists, get all your guns togethers and stay the heck home.

Ha! You know I've already got all mine ready! ::BigGun::

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I just got through "AA's 457 Company" and did what I said, increased to 7%. I actually can afford it because I am no longer going to pay $200 extra toward the principal of my auto loan. If things work as I hope, I should be able to get a reimbursement from GM due to NJ's Lemon Law in a few months (from what my attorneys tell me).

Since I've always been a degenerate gambler in one form or another, I am betting that GM takes my car back, pays me on my original loan plus my payments that I paid as well as me paying them $800 for what comes to be a rental fee. LOL. All the while, I buy more shares for my retirement pretax.

My tax refund is going to look very nice. :)

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Well-I would have to add this input-my companion has lost $600,000 so far which puts him back to about 10 years ago financially......his financial advisor blames it on the elimination of the mark to market rule in December and two fed politicos who have completely revamped Wall Street in a few short months-bringing investment banking back into the commercial banking fold....something that has not been done since the 1930's....and with the elimination of the mark to market rule, financial institutions had to begin to state their real value including their bad real estate packages. Values were based on a house of cards. The market has always been pyschologically based-right now it is panic driven. This period is also being referred to as a reverse bubble. There are excellent blue chip bargains out there and online trading has never been easier. Buy in the bear, sell in the bull.......

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How about that nice 936 Dow jump today? My 457 contribution landed on Friday 10/10-tail end of the worst week spiral. My contribution bought double what I normally "spend" on stock....so after today, I am probably going to see a nice boost in my 457. I won't have all of it back of course (right now), but still hoping that by week's end, we end up above 10K on the DOW.

Confidence is starting to come back.

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Gigantic short rally today. I think we bottomed but who knows. We could bounce around for a while. These things take time. But buy while you can. The market is still reasonably priced.

I know its been mentioned before, but just because your account is less than it was a month ago by x dollars doesn't mean your account is down "x dollars". No one buys at the bottom and no one sells at the top. You'd need a crystal ball. Warren Buffett, Bill Gross, even that clown Jim cramer don't even claim to sell at the tippy top. It is a fallacy.

Good luck everyone. Stick to your plan and ignore the noise!

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