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Tear this apart Mike

Bent

Bent

Only Marble Sharp
NAXJA Member
Location
REDLANDS, CA. (SoCal)
Bent,

that's great...but look at the source. The trouble with all this info out there floating around is it's BS. One economists thinks the bail out would have been bad, the next interviewed talks that the decline is good for leveling. It's BS.

The fact is the Dow dropped 777 points, I believe the biggest single day loss in it's history and a projected loss of $112 Trillion.

What does it all mean? Well that depends on your source of information.

I will tell you this much, the sun will set tonight and rise tomorrow and I'll be in Moab on Monday. :wave:

One of my three retirement funds crashed, went TU last May got taken over by some government agency and my annuity is 50% of what is was secheduled to be. Oh well.
 
Boatwrench said:
One economists thinks the bail out would have been bad, the next interviewed talks that the decline is good for leveling.
Click to expand...
:gee:
Can't honestly argue that FACT.

Boatwrench said:
The fact is the Dow dropped 777 points, I believe the biggest single day loss in it's history and a projected loss of $112 Trillion.
Click to expand...
:shhh:
Forget the points, think % ...better yet, think Moab!
 
Bent said:
Here you go, Echoboma, err...Mike. try to actually educate yourself. These links are from an email I recieved today. They make for an imformative, non-paniced read.

http://personal.fidelity.com/misc/framesets/iw6.shtml

http://personal.fidelity.com/produc...utualFunds/market_analysis.shtml?refpr=FidPub

This one is particularly insightful,

http://personal.fidelity.com/products/funds/content/pdf/dont_forget_about_congress.pdf
Click to expand...

Funny, I just found this thread. IIRC I posted these same links about the same time you did in another thread for you guys, LOL. :eek:

Regarding the non-panic read, unfortunately that is exactly what one would expect these guys to say, since they want to keep out money! Their jobs and incomes depend on it.

I still remember in the 80's when some bond funds and municipal bonds went belly up, and tens of thousands of retired people screamed at Washington when their retirement accounts went belly up as several municipal groups, including cities went bankrupt, mid to late 1980's.

Hell I owned stock in 1987 in what I was convinced was a sure bet. IIRC it was New Hampshire (sp?) Power and Light ( or something like that, been to long). It was selling for 1/10 of its book value, not 10 times book value, 1/10th!. It had 3 nuclear power plants under construction, one finished that it could not turn on because Governor Decaucus (sp?) would not aprove the required safety emergency plan in Mass. required by the NRC (Now the DOE). I was convinced the Feds would not allow them to go bankrupt, not with operating nuclear power plants on line. Well they went from about $26 a share (bok value was $260 a share when I bought it) down to about 0.25 a share before they did a bail out like the bank bail outs (more like real cheap unfriendly take overs) we have seen recently. I got back about 1% of my investment.
Took 2 years for the stock to reach $0.25 / share after I bought it, slow death!Hasta
 
Boatwrench said:
The fact is the Dow dropped 777 points, I believe the biggest single day loss in it's history and a projected loss of $112 Trillion.

One of my three retirement funds crashed, went TU last May got taken over by some government agency and my annuity is 50% of what is was secheduled to be. Oh well.
Click to expand...

As I remember it dropped into the 4 digits range back in the 80's, 777 was just a blip from people panicking. You do realize that 777 equals about 7.8%, oil went up faster than that.
 
Relax & put it into perspective. The late 80's crash shed around 20% We're not close to that yet. Markets fall, markets recover, & markets grow. This is a correction & if you're in it for the long haul than this is a great time to buy. Everything is on sale. If you're close to retirement than my argument would be you should have be into something much more conservative than the stock market.
 
It was 1987, September I think, I was in a Fdelity investments store the day it crashed. Most of the crash took 2 days. The DJIA droped from 27xx to 17xx in those 2 days. 1000/2700 = .37, so it was a 37 % drop in 2 days. Most of it was blamed on computer driven futures trading. SEC changed the rules after that day, and required computer trading to be stopped for a while, if the Dow ever dropped more than something 5% in one day.

The stock market recovered half of the 37% loss on the third day, but with in a month or so it settled to around 1800 before a solid bottom or floor restarted the next bull market. What saved the market was a huge series of announcements by companies like Dow, Dupont, Exxon, Ge,....that they were going to buy back huge amounts of their own stocks if the stock prices dropped any further, thus setting a floor to their stock prices, and they had the cash to back it up.
 
FarmerMatt said:
Relax & put it into perspective. The late 80's crash shed around 20% We're not close to that yet. Markets fall, markets recover, & markets grow. This is a correction & if you're in it for the long haul than this is a great time to buy. Everything is on sale. If you're close to retirement than my argument would be you should have be into something much more conservative than the stock market.
Click to expand...

Personally, I think there is more bad news to go here, and that current stock prices are still too high. After a few more quarters of bad reports those stock prices are going to go lower. Only stocks I still have are BioTech. The Biotechs were doing OK while everything else was going down, at least until about 4 weeks ago.
 
FarmerMatt said:
Relax & put it into perspective. The late 80's crash shed around 20% We're not close to that yet. Markets fall, markets recover, & markets grow. This is a correction & if you're in it for the long haul than this is a great time to buy. Everything is on sale. If you're close to retirement than my argument would be you should have be into something much more conservative than the stock market.
Click to expand...

I agree all we have seen so far is a correction, and some total looses by those that went by-by already! After what I saw in 1987, I am still expecting the other foot to fall, as they say. When the Dow hits 5000 or 7000, Then it may be time to buy in, depending on inflation rates and interest rates.

Right now it is starting to look like inflation and high oil prices are about to be a dead topic. I hear Warren Buffet just bought 5 billion dollars of GE preffered stock with warrants to buy more today, not long after buying 3 billion of Goldman Sachs, about 2 weeks ago.

IIRC Our Treasury Secretary was the CEO of Goldman Sachs a few years ago, Hmmm?
 
Ecomike said:
I agree all we have seen so far is a correction, and some total looses by those that went by-by already! After what I saw in 1987, I am still expecting the other foot to fall, as they say. When the Dow hits 5000 or 7000, Then it may be time to buy in, depending on inflation rates and interest rates.

Right now it is starting to look like inflation and high oil prices are about to be a dead topic. I hear Warren Buffet just bought 5 billion dollars of GE preffered stock with warrants to buy more today, not long after buying 3 billion of Goldman Sachs, about 2 weeks ago.

IIRC Our Treasury Secretary was the CEO of Goldman Sachs a few years ago, Hmmm?
Click to expand...

Well my prediction above last week has not been far off, in fact it happened faster, sooner than I might have expected.
"When the Dow hits 5000 or 7000, Then it may be time to buy in,"
 
More bad news here:

http://www.frontlinethoughts.com/gateway.asp?ref=reprint

the credit freeze illness is spreading to Letters of Credit which means import/export comes to a standstill, construction lending into the ditch and more.

You have to enter an email address & will start getting his news letters. I've been getting them for 2 or 3 years and have never seen any evidence that the email is used for anything except to send out the newsletter.
 
Wow, that is a must read for all of us! Best article I have read out of hundreds the last few weeks!

Heel it sounds like all the world wide international shipping is or has come to a complete standstill with perishables sitting and rotting on the docs!
JEEEESSSSSEEEEEAWIS!

sjkimmel99 said:
More bad news here:

http://www.frontlinethoughts.com/gateway.asp?ref=reprint

the credit freeze illness is spreading to Letters of Credit which means import/export comes to a standstill, construction lending into the ditch and more.

You have to enter an email address & will start getting his news letters. I've been getting them for 2 or 3 years and have never seen any evidence that the email is used for anything except to send out the newsletter.
Click to expand...
 
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