Does this have a mental effect on you?
Safety Car
Joined: Jul 2007
Posts: 4,845
Likes: 145
I watch it like a train wreck, but I don't feel connected to it. I keep hiding money from myself in my 401k and live life like usual. I don't have any investments that I would use short-term. I recently closed out a mutual fund to prepare for a down payment on a second residence - decent timing.
The only ill effect is that I've been evaluating my value to my employer. I'm pretty sure I'm safe. The company has implemented pay cuts for upper managers, which didn't affect me.
The only ill effect is that I've been evaluating my value to my employer. I'm pretty sure I'm safe. The company has implemented pay cuts for upper managers, which didn't affect me.
I feel the need...
Joined: May 2004
Posts: 14,957
Likes: 515
From: Motown
Unless you plan to retire tomorrow - I don't see why obsessing over the day to day gyrations of the equity markets is something to be overly concerned with unless you are an active trader.
Like Buffet says, if you are a net investor, you should be rooting for cheaper assets, not more expensive ones.
Like Buffet says, if you are a net investor, you should be rooting for cheaper assets, not more expensive ones.
Thread Starter
Joined: Nov 2003
Posts: 8,169
Likes: 1,842
From: Austin Burbs
See, that's the thing. The DJIA is supposed to be the measure (ruler if you will) of the state of the economy. I have never bought into that notion for a slew of reasons. My thoughts are, "there is a sale on stocks right now". I'm even considering buying a bank stock for the long term.
Anywho, it seems like only yesterday when we were trying to surpass the 10K mark. It was such a big deal. I was just wondering if it is still a big deal to some going below that coveted mark.
Anywho, it seems like only yesterday when we were trying to surpass the 10K mark. It was such a big deal. I was just wondering if it is still a big deal to some going below that coveted mark.
Trending Topics
I feel the need...
Joined: May 2004
Posts: 14,957
Likes: 515
From: Motown
Fear Trumps Greed as Worries Paralyze World Economy
Greed and fear are the emotions that rule Wall Street. Fear is winning.
Investors are in the grip of a panic that psychologists and historians say isn't necessarily rational and may intensify. They aren't buying stocks, and more importantly, suddenly afraid they won't be repaid, they aren't making loans by buying bonds. Banks have also tightened credit.
``People are driven by images of the best and worst that can happen,'' says George Loewenstein, a professor of psychology and economics at Carnegie Mellon University in Pittsburgh. ``The image of the worst is much more vivid in their minds right now.''
The fear that has frozen credit markets means Ellen Logan can't sell her Chicago-area condominium. In Los Angeles, Ron Schwartz can't replace his wife's old car. In Seattle, Lisa LeVere is buying only the bare necessities. Consumer spending is two-thirds of gross domestic product. If Americans close their wallets, recession -- or worse -- is all but certain.
To limit the damage, the Federal Reserve lowered its benchmark interest rate today, in concert with central banks in Europe, Canada and China. The European and U.S. stock markets fell anyway.....
Investors are in the grip of a panic that psychologists and historians say isn't necessarily rational and may intensify. They aren't buying stocks, and more importantly, suddenly afraid they won't be repaid, they aren't making loans by buying bonds. Banks have also tightened credit.
``People are driven by images of the best and worst that can happen,'' says George Loewenstein, a professor of psychology and economics at Carnegie Mellon University in Pittsburgh. ``The image of the worst is much more vivid in their minds right now.''
The fear that has frozen credit markets means Ellen Logan can't sell her Chicago-area condominium. In Los Angeles, Ron Schwartz can't replace his wife's old car. In Seattle, Lisa LeVere is buying only the bare necessities. Consumer spending is two-thirds of gross domestic product. If Americans close their wallets, recession -- or worse -- is all but certain.
To limit the damage, the Federal Reserve lowered its benchmark interest rate today, in concert with central banks in Europe, Canada and China. The European and U.S. stock markets fell anyway.....
The old adage is buy when there's blood on the streets...
I feel the need...
Joined: May 2004
Posts: 14,957
Likes: 515
From: Motown
Buy When There's Blood In The Streets
by Daniel Myers,CFA
http://www.investopedia.com/articles...-investing.asp
Baron Rothschild, an 18th century British nobleman and member of the Rothschild banking family, is credited with saying that "The time to buy is when there's blood in the streets."
He should know. Rothschild made a fortune buying in the panic that followed the Battle of Waterloo against Napoleon. But that's not the whole story. The original quote is believed to be "Buy when there's blood in the streets, even if the blood is your own."
This is contrarian investing at its heart - the strongly-held belief that the worse things seem in the market, the better the opportunities are for profit.
Most people only want winners in their portfolios, but as Warren Buffett warned, "You pay a very high price in the stock market for a cheery consensus." In other words, if everyone agrees with your investment decision, then it's probably not a good one.....
He should know. Rothschild made a fortune buying in the panic that followed the Battle of Waterloo against Napoleon. But that's not the whole story. The original quote is believed to be "Buy when there's blood in the streets, even if the blood is your own."
This is contrarian investing at its heart - the strongly-held belief that the worse things seem in the market, the better the opportunities are for profit.
Most people only want winners in their portfolios, but as Warren Buffett warned, "You pay a very high price in the stock market for a cheery consensus." In other words, if everyone agrees with your investment decision, then it's probably not a good one.....
What Would Don Draper Do?
Joined: Jan 2005
Posts: 22,223
Likes: 1
From: Houston
now's the time to get in.
for retirement money, i've been checking my return everyday because it's been interesting to see how much movements in the markets affect my account. but i'm not really fretting over it since i'm hoping not to touch it for a long time.
as for short term investments, i have some money in mutual funds that i'm using to save for an engagement ring and house down payment. i've moved that into cash back in august.
but as mentioned, i'm more worried about job security. i think i'll be ok for now.
One on the right for me
Joined: Jul 2004
Posts: 27,914
Likes: 272
From: Bay Area, CA
^ - Worried about my (future) job more than anything else. So far the firm I'm clerking for has been doing better than others by way of retaining clients that can actually pay, but I don't start until next Aug and that is a damn long time to wait.
Thread Starter
Joined: Nov 2003
Posts: 8,169
Likes: 1,842
From: Austin Burbs
okay, the Dow is at 8500 and our government is still trying to "figure out" what to do with the 700B bailout. Wait.... so they didn't have a well laid out plan before requesting the 700B? That's scary.
Suzuka Master
Joined: Aug 2007
Posts: 6,732
Likes: 233
From: Massachusetts
There is no such thing as a well laid out government plan. No unicorns or easter bunny either, in case you were wondering.
Thread Starter
Joined: Nov 2003
Posts: 8,169
Likes: 1,842
From: Austin Burbs
Thread Starter
Joined: Nov 2003
Posts: 8,169
Likes: 1,842
From: Austin Burbs
Beer 
My friend just IM'ed me this
If you had purchased $1,000 of shares in Delta Airlines one year ago, you will have $49.00 today.
If you had purchased $1,000 of shares in AIG one year ago, you will have $33.00 today.
If you had purchased $1,000 of shares in Lehman Brothers one year ago, you will have $0.00 today.
But, if you had purchased $1,000 worth of beer one year ago, drank all the beer, then turned in the aluminum cans for recycling refund, you will have received a $214.00. Based on the above, the best current investment plan is to drink heavily & recycle. It is called the 401-Keg.
My friend just IM'ed me this
If you had purchased $1,000 of shares in Delta Airlines one year ago, you will have $49.00 today.
If you had purchased $1,000 of shares in AIG one year ago, you will have $33.00 today.
If you had purchased $1,000 of shares in Lehman Brothers one year ago, you will have $0.00 today.
But, if you had purchased $1,000 worth of beer one year ago, drank all the beer, then turned in the aluminum cans for recycling refund, you will have received a $214.00. Based on the above, the best current investment plan is to drink heavily & recycle. It is called the 401-Keg.
Suzuka Master
Joined: Aug 2007
Posts: 6,732
Likes: 233
From: Massachusetts
Beer
My friend just IM'ed me this
If you had purchased $1,000 of shares in Delta Airlines one year ago, you will have $49.00 today.
If you had purchased $1,000 of shares in AIG one year ago, you will have $33.00 today.
If you had purchased $1,000 of shares in Lehman Brothers one year ago, you will have $0.00 today.
But, if you had purchased $1,000 worth of beer one year ago, drank all the beer, then turned in the aluminum cans for recycling refund, you will have received a $214.00. Based on the above, the best current investment plan is to drink heavily & recycle. It is called the 401-Keg.
My friend just IM'ed me this
If you had purchased $1,000 of shares in Delta Airlines one year ago, you will have $49.00 today.
If you had purchased $1,000 of shares in AIG one year ago, you will have $33.00 today.
If you had purchased $1,000 of shares in Lehman Brothers one year ago, you will have $0.00 today.
But, if you had purchased $1,000 worth of beer one year ago, drank all the beer, then turned in the aluminum cans for recycling refund, you will have received a $214.00. Based on the above, the best current investment plan is to drink heavily & recycle. It is called the 401-Keg.
And we wonder why the country is in so much trouble:
If you bought 30 packs of beer with that $1,000 at $.05 per can you would get $1.50 per 30 pack. in order to make $214 you would need to have 142.66... 30 packs. Therfore you would have to be buying your 30 packs for $7.00 each.
If your friend can show me where he buys 30 packs of beer for less than $7 each, I have a much better way for him to make money than selling the cans.
Math owns you.
Thread Starter
Joined: Nov 2003
Posts: 8,169
Likes: 1,842
From: Austin Burbs
And we wonder why the country is in so much trouble:
If you bought 30 packs of beer with that $1,000 at $.05 per can you would get $1.50 per 30 pack. in order to make $214 you would need to have 142.66... 30 packs. Therfore you would have to be buying your 30 packs for $7.00 each.
If your friend can show me where he buys 30 packs of beer for less than $7 each, I have a much better way for him to make money than selling the cans.
Math owns you.
If you bought 30 packs of beer with that $1,000 at $.05 per can you would get $1.50 per 30 pack. in order to make $214 you would need to have 142.66... 30 packs. Therfore you would have to be buying your 30 packs for $7.00 each.
If your friend can show me where he buys 30 packs of beer for less than $7 each, I have a much better way for him to make money than selling the cans.
Math owns you.
And we wonder why the country is in so much trouble:
If you bought 30 packs of beer with that $1,000 at $.05 per can you would get $1.50 per 30 pack. in order to make $214 you would need to have 142.66... 30 packs. Therfore you would have to be buying your 30 packs for $7.00 each.
If your friend can show me where he buys 30 packs of beer for less than $7 each, I have a much better way for him to make money than selling the cans.
Math owns you.
If you bought 30 packs of beer with that $1,000 at $.05 per can you would get $1.50 per 30 pack. in order to make $214 you would need to have 142.66... 30 packs. Therfore you would have to be buying your 30 packs for $7.00 each.
If your friend can show me where he buys 30 packs of beer for less than $7 each, I have a much better way for him to make money than selling the cans.
Math owns you.
Bent = #1
Joined: Dec 2001
Posts: 13,473
Likes: 25
From: Marietta, GA
30 packs of Miller Lite = $18.99
Receive $.10 a can.
Keystone gets you 71 30 packs = 2130 cans
Miller Lite gets you 52 30 packs = 1560 cans
Keystone 2130 * $.10 = $213
Miller 1560 * $.10 = $156
Cheap beer owns you.
Thread Starter
Joined: Nov 2003
Posts: 8,169
Likes: 1,842
From: Austin Burbs
Suzuka Master
Joined: Aug 2007
Posts: 6,732
Likes: 233
From: Massachusetts
Besides, in the state that gives you $.10 a can, do they charge deposit like they do here? That means you would still have to be buying it for $11.50 or less.
Maybe it's possible, but it would assume someone with the ability to drink 71 30 packs of Keystone. Certainly a much greater man than I.
I call BS.
Bent = #1
Joined: Dec 2001
Posts: 13,473
Likes: 25
From: Marietta, GA
Damn michigan and it's 10 cent deposit. Maybe if we got a big truck, say a mail truck, and rounded up a bunch of cans......
Besides, in the state that gives you $.10 a can, do they charge deposit like they do here? That means you would still have to be buying it for $11.50 or less.
Maybe it's possible, but it would assume someone with the ability to drink 71 30 packs of Keystone. Certainly a much greater man than I. I call BS.
Besides, in the state that gives you $.10 a can, do they charge deposit like they do here? That means you would still have to be buying it for $11.50 or less.
Maybe it's possible, but it would assume someone with the ability to drink 71 30 packs of Keystone. Certainly a much greater man than I.
I call BS.
Thread
Thread Starter
Forum
Replies
Last Post
rockyboy
2G RDX (2013-2018)
23
Sep 24, 2015 09:48 AM