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Invelos Forums->General: General Discussion |
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Global Economic Meltdown |
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| Registered: March 13, 2007 | Reputation:  |  Posts: 6,635 |
| | | Registered: June 3, 2007 | | Posts: 333 |
| | | Registered: March 13, 2007 | | Posts: 21,610 |
| | Posted: | | | | | | | ASSUME NOTHING!!!!!!
CBE, MBE, MoA and proud of it.
Outta here
Billy Video |
| | Registered: March 19, 2007 | Reputation:  |  Posts: 6,018 |
| | Posted: | | | | Just sit right through it, Skip! You'll only experience damages once you start selling, which I would suggest it is not the right time to do. Until such a time, it's just virtual damage. Or am I missing something? |
| | Registered: April 4, 2007 |  Posts: 883 |
| | Posted: | | | | Quoting dee1959jay: Quote:
Just sit right through it, Skip! You'll only experience damages once you start selling, which I would suggest it is not the right time to do. Until such a time, it's just virtual damage. Or am I missing something? It IS virtual damage. I bet you didn't buy your shares at the last high of the Dow anyways, so your loss is not as much as you're making it seem. Well, anyways, you should only invest spare money in risky things like stocks anyways so why are you complaining? If you just lost 20% of your spare money that's bad luck, but it's not going to ruin you. Unlike the people who lost 100% of their saving through the Iceland debacle. | | | | - Jan |
| | Registered: March 13, 2007 |  Posts: 756 |
| | Posted: | | | | Quoting hydr0x: Quote:
......Unlike the people who lost 100% of their saving through the Iceland debacle. I wait with bated breath to see whether we get any of our £30,000 back from those, er, gentlemen! | | | | Chris | | | | Last edited: by Mole |
| | Registered: March 13, 2007 | | Reputation: | | Posts: 6,635 |
| | Posted: | | | | Quoting dee1959jay: Quote:
Just sit right through it, Skip! You'll only experience damages once you start selling, which I would suggest it is not the right time to do. Until such a time, it's just virtual damage. Or am I missing something? Well, that all depends on whether you need those investments in the near term in order to meet your financial obligations....like eating. The other thing that happens in this kind of market is that companies start cutting dividends. Even if you "hold on", your income can shrink as a result. For those in their 30's and 40's, "hold on" is sage advice as long as they have secure employment (which is a lot less secure, than it was last week). For those getting ready to retire or newly retired, this sell off can mean the difference as to whether they can retire, or can stay in retirement. I'm afraid things will get much uglier before we see the bottom. | | | | Hal | | | | Last edited: by hal9g |
| | Registered: April 4, 2007 | | Posts: 883 |
| | Posted: | | | | Quoting hal9g: Quote:
Well, that all depends on whether you need those investments in the near term in order to meet your financial obligations....like eating. If you need them not to starve you did something wrong. No one should invest that kind of existential money in such a risky way. (Again, not talking about standard saving accounts of bankrupt banks) | | | | - Jan |
| | Registered: March 13, 2007 | | Posts: 21,610 |
| | Posted: | | | | Quoting hal9g: Quote:
Quoting dee1959jay:
Quote:
Just sit right through it, Skip! You'll only experience damages once you start selling, which I would suggest it is not the right time to do. Until such a time, it's just virtual damage. Or am I missing something?
Well, that all depends on whether you need those investments in the near term in order to meet your financial obligations....like eating.
The other thing that happens in this kind of market is that companies start cutting dividends. Even if you "hold on", your income can shrink as a result.
For those in their 30's and 40's, "hold on" is sage advice as long as they have secure employment (which is a lot less secure, than it was last week).
For those getting ready to retire or newly retired, this sell off can mean the difference as to whether they can retire, or can stay in retirement.
I'm afraid things will get much uglier before we see the bottom. @ deejay Quite correct and exactly what I am planning to do, but that doesn't mean I have to like it. Hal: You are correct, old friend, it's going to very rocky road for awhile. Look for at least a year, maybe two before showing signs of serious recovery. Skip | | | ASSUME NOTHING!!!!!!
CBE, MBE, MoA and proud of it.
Outta here
Billy Video |
| | Registered: March 19, 2007 | | Reputation: | | Posts: 6,018 |
| | Posted: | | | | Quoting Mole: Quote:
Quoting hydr0x:
Quote:
......Unlike the people who lost 100% of their saving through the Iceland debacle.
I wait with bated breath to see whether we get any of our £30,000 back from those, er, gentlemen! Many Dutch citizens are affected by the Icesave debacle as well. It is my understanding that both the UK and the Dutch governments are talking to the Icelandic government. Last night the Dutch Finance secretary announced that one way or the other, Dutch people with an Icesave account would get their money back (up to the NL-guaranteed limit of 100,000 euros). Surely the British government should be able to offer something similar?? I also heard the Dutch government is opposing any IMF loans to Iceland as long as a settlement of the Icesave debacle is not part of the deal. |
| | Registered: March 19, 2007 | | Reputation: | | Posts: 6,018 |
| | Posted: | | | | Quoting skipnet50: Quote:
@ deejay
Quite correct and exactly what I am planning to do, but that doesn't mean I have to like it.
Skip Of course you don't. But as long as it's only virtual damage, I'd say: count your blessings! MANY people are suffering VERY REAL damages. Half of my mortgage is based on stocks, and of course there's a LOT of damages there as well. And you know what? I don't give a shiitake mushroom. It would only matter to me if the date at which the stock revenues would be needed to pay back the mortgage would be approaching (which fortunately is not the case by a long shot). But as it stands now, my reasoning is that at some point they will start to go up again. If anything, this is a time to buy MORE stocks (just make sure you're buying into solid companies...). | | | | Last edited: by dee1959jay |
| | Registered: March 13, 2007 | | Reputation: | | Posts: 6,635 |
| | Posted: | | | | Quoting hydr0x: Quote:
Quoting hal9g:
Quote:
Well, that all depends on whether you need those investments in the near term in order to meet your financial obligations....like eating.
If you need them not to starve you did something wrong. No one should invest that kind of existential money in such a risky way. (Again, not talking about standard saving accounts of bankrupt banks) I don't think anyone plans on losing their job and having no source of income. That is going to happen as a result of this crisis, and people are going to have no choice but to turn to their investments just to survive. That's what I was talking about. And based on what I see going on around me specifically with people that I know, very few have realistic financial plans. Most are spending more than they have coming in and are in debt up to their eyeballs. That is a large part of the reason that we are facing the problems we are today. | | | | Hal |
| | Registered: March 19, 2007 | | Reputation: | | Posts: 6,018 |
| | Posted: | | | | Fully agree, Hal! Here's an article on US credit addiction. Or look here. Or, perhaps more appropriate in a DVD Forum, watch In Debt We Trust. | | | | Last edited: by dee1959jay |
| | Registered: March 13, 2007 | | Posts: 4,596 |
| | | Registered: April 8, 2007 | | Posts: 1,057 |
| | Posted: | | | | Hi Guys,
All herd animals (herbivores) are on constant vigil, for predators. Avoidance of predators is accomplished by running or stampeding. Often times the amount of running is not proportional to the threat, or the herd will run farther than necessary, to avoid danger.The stock market acts just like frightened herbivores, but runs are two way. The bulls are stampeding now, but soon will come to rest, & begin there stampede in the other direction. This action can be seen best by zooming out & looking at a long term graph of the dow, which contains many short term (relatively speaking) spikes both up & down. Long term, I believe the annual gain, for the dow is approx. 10 - 12 % including dividends. Some savvy individuals are going to become RICH, from this economic meltdown. Who will become rich, bottom fishers, value investors, how by buying good companies at heavily discounted prices. Stocks are the only things that go on sale, but nobody wants to buy. Now is the time to look forward, & that direction is up. One example: I do not believe GM will go out of business, they will survive & regain some of there sales back; but because of this once (roughly) in a lifetime sale GM can be bought for less than $5.00 per share. It's time to turn the lemons, into lemon aid!
Take Care
Rico | | | If I felt any better I'd be sick!
Envy is mental theft. If you covet another mans possessions, then you should be willing to take on his responsibilities, heartaches, and troubles, along with his money. D. Koontz |
| | Registered: March 13, 2007 | | Posts: 2,692 |
| | Posted: | | | | Quoting dee1959jay: Quote:
Quoting Mole:
Quote:
Quoting hydr0x:
Quote:
......Unlike the people who lost 100% of their saving through the Iceland debacle.
I wait with bated breath to see whether we get any of our £30,000 back from those, er, gentlemen!
Many Dutch citizens are affected by the Icesave debacle as well. It is my understanding that both the UK and the Dutch governments are talking to the Icelandic government. Last night the Dutch Finance secretary announced that one way or the other, Dutch people with an Icesave account would get their money back (up to the NL-guaranteed limit of 100,000 euros). Surely the British government should be able to offer something similar??
I also heard the Dutch government is opposing any IMF loans to Iceland as long as a settlement of the Icesave debacle is not part of the deal. As you say they are talking - but I'm not sure that the use by the UK government of anti-terror legislation to freeze the Iceland bank(s) accounts in the UK was quite the way to gain meaningful dialogue. | | | | Paul |
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