Tarheel Posted November 20, 2008 Share Posted November 20, 2008 In 17 more days of returns like todays loss the stocks that make up the Dow will be at zero (assuming no up days)! Completely worthless. Sorry to be the bearer of this news but we have dropped from a high of a little over 14,000 to 7500. The gurus on CNBC say we have'nt seen the bottom yet. Retirement portfolios have been decimated especially painful to the baby boomers nearing retirement. Any sage advice out there? Quote Link to comment Share on other sites More sharing options...
bluesboy Posted November 20, 2008 Share Posted November 20, 2008 It's time to tap into the underground economy. Quote Link to comment Share on other sites More sharing options...
michael hurd Posted November 21, 2008 Share Posted November 21, 2008 Stuff your mattress with $$ rather than investing in 'paper' money that does not offer any guaranteed ROI. Better to have no change in value than to lose your shirt, IMO. Quote Link to comment Share on other sites More sharing options...
JJkizak Posted November 21, 2008 Share Posted November 21, 2008 Fill out the TARP application form saying you are a bank officer from the Bank Of England and that the USA has won the lottery and that the USA must send a check for $3000.00 to cover mailing and shipping costs to receive the lottery winings at $700 billion. JJK Quote Link to comment Share on other sites More sharing options...
djk Posted November 21, 2008 Share Posted November 21, 2008 Pehaps a little late for you, but Crash-Proof by Peter Schiff is a good book. It may offer good advise yet still. Schiff thinks the bottom may be around 5000 (although this was written about 2 years ago), and points out that the entire DJIA has dropped to the price of ONE OUNCE of gold twice in recent history. Quote Link to comment Share on other sites More sharing options...
RT FAN Posted November 21, 2008 Share Posted November 21, 2008 Buy guns and gold. Quote Link to comment Share on other sites More sharing options...
BobRiff Posted November 21, 2008 Share Posted November 21, 2008 Buy guns and gold. ...before January 20th. Quote Link to comment Share on other sites More sharing options...
RT FAN Posted November 21, 2008 Share Posted November 21, 2008 Sad but true, gun and ammo sales are through the roof recently. On the order of 30-40% in some areas, as well as huge price increases in common caliber rifle shells. I don't think this is totally due to the perception that the Democratic congress will further restrict possesion of firearms, I believe that there is genuine fear of a systemic collapse. Tough economic times helps breed paranoia, real or imagined. ( sorry I forgot how to post a link to various articles confirming these assertions.) One thing to watch is with Citibank trading in the $5 range the stock will come under more selling pressure as some mutual funds have it in their charters not to own shares of a company under a $5 trading price. Who do they merge with? Goldman? Morgan Stanley? The big three auto makers are essentially bankrupt with GM's medical and pension liabilities running $5 billion per annum. The UAW's pension and medical claims are backed by the federal government. That means us, the taxpayers. Quote Link to comment Share on other sites More sharing options...
Coytee Posted November 21, 2008 Share Posted November 21, 2008 Here's some tidbits for you that we went over just yesterday Date S&P Value 10/9/2007 S&P 500 all time high 1,568 01/01/2008 Beginning of current year 1,468 09/30/2008 End of 3rd quarter, 2008 1,145 11/20/2008 Most recent close 849 Percent change this year, 2008 10 mos, 20 days <-42.17%> Percent change from high 1 yr, 11 days <-45.85%> Percent change last 7 weeks <-25.85%> Percent change 1st 9 months 2008 <-22.00%> Increase needed to return back to all time high? 84.69% Anyone dare think it's going to almost double, anytime soon? Quote Link to comment Share on other sites More sharing options...
Zen Traveler Posted November 21, 2008 Share Posted November 21, 2008 This might be a good opportunity to ask yourself, what IS money? ...Along with the belated question "How do Credit Default Swaps effect me?" [*-)] Quote Link to comment Share on other sites More sharing options...
Tarheel Posted November 21, 2008 Author Share Posted November 21, 2008 Yet the stock share price of gun manufacturers like Sturm Ruger and Smith & Wesson have'nt participated in the run on guns. What I now question is the age old rule of diversification and buy and hold. All sectors have been beaten up this time and one account I own is now worth less than when I invested the money in 1992. 16 years.....yikes! The only profits are being made by the short sellers. I remember our old buddy mas saying something to the effect that if you are only long stocks you might not have any business in the market. Quote Link to comment Share on other sites More sharing options...
colterphoto1 Posted November 21, 2008 Share Posted November 21, 2008 Even if our funds do recover during our lifetimes, we'll be paying out the nose for taxes for all these special programs. Face it, we're screwed either way. The game is over. Global Economic Collapse is upon us. I've never owned a gun, perhaps now is the time. Quote Link to comment Share on other sites More sharing options...
Tarheel Posted November 21, 2008 Author Share Posted November 21, 2008 Glad you came back Mark after leaving us with that previous teaser[] Please continue...... I value your imput. Quote Link to comment Share on other sites More sharing options...
Tarheel Posted November 21, 2008 Author Share Posted November 21, 2008 " I believe that banking institutions are more dangerous to our liberties than standing armies. If the american people ever allow the banks to control the issue of currency, first by inflation, then by deflation, the banks and corporations that will grow up around banks will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered." Thomas Jefferson 1802 Quote Link to comment Share on other sites More sharing options...
JJkizak Posted November 21, 2008 Share Posted November 21, 2008 I see the third figure sideways in the shawl. JJK Quote Link to comment Share on other sites More sharing options...
djk Posted November 22, 2008 Share Posted November 22, 2008 "Lightheartedly he asks, -Have the factories disappeared?" A lot of them have closed. The city flattens them after they lapse on taxes and they fall into disrepair. " The machinery?" Shipped out of the country. "-Have the workers died off? " They have moved away (if young), retired, and yes, some have died. However: The service economy is booming, there are at least 100 eating establishments within a one mile radius of where I live. Of course the employees that work in them don't earn enough money to eat in same. Quote Link to comment Share on other sites More sharing options...
Don Richard Posted November 22, 2008 Share Posted November 22, 2008 The stock market and particularly the futures market attract gamblers. These markets are also emotion-driven. A sure recipe for failure is to be an emotional gambler. If you cannot stand to lose, then stay out of these markets. Quote Link to comment Share on other sites More sharing options...
colterphoto1 Posted November 22, 2008 Share Posted November 22, 2008 mmmm hamburger meat mmmmm I did my part, spent $30,000+ on a building addition and employed several US carpenters for a few weeks. Quote Link to comment Share on other sites More sharing options...
Tarheel Posted November 22, 2008 Author Share Posted November 22, 2008 I agree with most everything that has been said previously particularly in respect to the market being driven by confidence and emotion. Though the down turn concerns me I guess I am more bothered by the fact that I don't have a lot of cash on the sideline and able to buy more at these prices. Believe me I have been buying hand over fist where I think there is a probable comeback in the future and yes I have heard the one about trying to catch a falling knife. I guess there is more than a bit of gambler in me but if you believe in the future of America then you have to believe that all the apples (companies, CEOs, or stocks) aren't bad. DJK I ordered Schiff's book through amazon this am....thanks. Thanks for all the opinions and suggestions and especially to Coytee for taking his time to share his thoughts with me by phone yesterday. It was great to get to put a voice with a name. Quote Link to comment Share on other sites More sharing options...
Tarheel Posted November 22, 2008 Author Share Posted November 22, 2008 And Michael I did my part as well....I just spent $100 on a matched quad of EH 6550s for the horn monos. Enjoy the new addition! Quote Link to comment Share on other sites More sharing options...
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