landlord Posted October 11, 2008 Report Share Posted October 11, 2008 Anyone feeling the pain from the market?I have lost a little but I only had a little invested,my dad and father-in-law has really taken a beating.Whats really bad is that they are 63 and 64(not much time to recover) Link to comment Share on other sites More sharing options...
REBELRACER Posted October 11, 2008 Report Share Posted October 11, 2008 from the start of the year until now my 401k has dropped $5000. i will be glad when it starts to go back up again Link to comment Share on other sites More sharing options...
jracer98 Posted October 11, 2008 Report Share Posted October 11, 2008 Agree, but.... The stock market has never "stayed" down. There are bargains to be had by investors with liquid assets but they don't see any reason to purchase them "today" instead of "tomorrow" as long as the selling price keeps getting cheaper every day. They will pick off some stuff when they feel it is near bottoming out... remember in Trading Places when DA and EM are waiting to buy (back) the shares of Frozen Concentrated Orange Juice? DA waited until he sensed that the price had bottomed out. I run a big country club...you wouldn't believe how many golf members resigned this week. "Early retired" guys that live on the returns of their portfolios are FREAKING OUT. Jay Link to comment Share on other sites More sharing options...
landlord Posted October 11, 2008 Author Report Share Posted October 11, 2008 Agree, but.... The stock market has never "stayed" down. There are bargains to be had by investors with liquid assets but they don't see any reason to purchase them "today" instead of "tomorrow" as long as the selling price keeps getting cheaper every day. They will pick off some stuff when they feel it is near bottoming out... remember in Trading Places when DA and EM are waiting to buy (back) the shares of Frozen Concentrated Orange Juice? DA waited until he sensed that the price had bottomed out. I run a big country club...you wouldn't believe how many golf members resigned this week. "Early retired" guys that live on the returns of their portfolios are FREAKING OUT. Jay Can't blame them for freaking.GM stock is below $5.00 a share.It has not been that low since the 50's.They are talking about it being "junk" status next week.If it gets much cheaper I just might have to get me some!!!!! Link to comment Share on other sites More sharing options...
HiTech Posted October 11, 2008 Report Share Posted October 11, 2008 problems are some like me have been hit so hard with fuel cost ..elec .water gas .food . cut hours at work ..and any other darn thing i cant think of at this time . alot of folks cant take advantage of lower stock prices ..nothing left over to invest ...its going to go back up we know ..some will be left behind ..... i havent looked at our 401 k.s or other stock we have ..dont want to know how hard they were hit .. . and cant do a damn thing aboult it anyway ..lost is a lost ....... Link to comment Share on other sites More sharing options...
Crazyhorse Posted October 11, 2008 Report Share Posted October 11, 2008 gm stock?.......i've heard rumors they are buying dodge? better jump on it. Link to comment Share on other sites More sharing options...
jracer98 Posted October 11, 2008 Report Share Posted October 11, 2008 problems are some like me have been hit so hard with fuel cost ..elec .water gas .food . cut hours at work ..and any other darn thing i cant think of at this time . alot of folks cant take advantage of lower stock prices ..nothing left over to invest ...its going to go back up we know ..some will be left behind ..... i havent looked at our 401 k.s or other stock we have ..dont want to know how hard they were hit .. . and cant do a damn thing aboult it anyway ..lost is a lost ....... Your 401K is invested in and "powered by" stock funds that are managed by fund managers. They are some of the guys waiting to make the "buy low" moves that will (hopefully) get your and my 401K moving in the right direction. Good luck to both you and me on that. Jay Link to comment Share on other sites More sharing options...
HiTech Posted October 12, 2008 Report Share Posted October 12, 2008 IM MORE WORRIED ABOULT MY SONS COLLEGE FUND.... Link to comment Share on other sites More sharing options...
landlord Posted October 12, 2008 Author Report Share Posted October 12, 2008 IM MORE WORRIED ABOULT MY SONS COLLEGE FUND.... Student loans are going to be hard to get also!!!!!!! Link to comment Share on other sites More sharing options...
1-Crew Posted October 13, 2008 Report Share Posted October 13, 2008 I'm down almost 100k from my high about 18 months ago. When will the leaders of this country realize that the financial industry has devolved into an elaborate Ponzi scheme? The headlines on the USA TODAY from Wednesday spouted "trillions disappear form 401K accounts, where do it go". I got news for you, it never existed.. All the money that is supposedly in the market is just paper, promises to pay on demand.. Now the bill comes due and they all belly up with "I can't pay".. Quit sending our money overseas!! Promote alternative energy (keep the money here not in the hands of terrorists). Close tax loopholes that make it favorable for manufacturers to move their operations overseas (that may mean reducing corporate taxes). Support conservation (see how OPEC has gone to panic mode and is calling for an emergency meeting to reduce production). Vote! and when you vote, don't expect the quick fix. Look at each candidate and try to determine which has policies that will bring jobs back to the US. You can't just put it on the back of industry, you need to make it to their advantage to continue to do business here in this country. That will keep jobs here and grow our economy. Get your house in order: http://www.daveramsey.com Link to comment Share on other sites More sharing options...
thumper Posted October 13, 2008 Report Share Posted October 13, 2008 Now is the time to get control of our government.We need TERM LIMITS on Senators and House members.@ terms and your out.The US Senate is the most powerful body in the world so why have dictators?It works for the presindency so why not congress? Link to comment Share on other sites More sharing options...
txtom Posted October 13, 2008 Report Share Posted October 13, 2008 Now is the time to get control of our government.We need TERM LIMITS on Senators and House members I think a lot of folks agree on that one. Regardless of public opinion, I won't hold my breath waiting for them to impose limits on themselves. Link to comment Share on other sites More sharing options...
tqj3 Posted October 13, 2008 Report Share Posted October 13, 2008 We have term limits. They have to run for re-election every two or six years. Unfortunately, we're so uneducated as an electorate that we don't kick them out, but keep re-electing the people who are the real problem. It doesn't really matter what Obama or McCain say they'll do, the president doesn't have the power to do anything except veto bills. The Congress runs the country. Link to comment Share on other sites More sharing options...
jracer98 Posted October 13, 2008 Report Share Posted October 13, 2008 I never said those "buy low" guys would be Americans..... from Yahoo, "NEW YORK - Morgan Stanley got a much-needed cash infusion on Monday, raising $9 billion by selling preferred shares to the Japanese bank Mitsubishi UFJ Financial Group Inc. Morgan Stanley's shares surged. " Jay Link to comment Share on other sites More sharing options...
HiTech Posted October 13, 2008 Report Share Posted October 13, 2008 I never said those "buy low" guys would be Americans..... from Yahoo, "NEW YORK - Morgan Stanley got a much-needed cash infusion on Monday, raising $9 billion by selling preferred shares to the Japanese bank Mitsubishi UFJ Financial Group Inc. Morgan Stanley's shares surged. " Jay hell why not .everyone else ownes us %^$^&*^^%^^ Link to comment Share on other sites More sharing options...
landlord Posted October 14, 2008 Author Report Share Posted October 14, 2008 How bout that GM stock!!!!!!!! Link to comment Share on other sites More sharing options...
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