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Old 01-02-2013, 09:49 PM   #21
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As there was no MF that went up that much in a single day, I also wondered what single stock would go up that much. There are, but they are usually small microcap stocks. So, did he put it all in his company stock?

Anyway, I myself do have a position that went up 12.72% today!

It's a triple-leveraged ETF called SOXL (Semiconductor Bull 3X) that I mentioned once before in another thread. I use it as a market-timing play, and have not had more than 1% of portfolio in this position as it is extremely volatile. I could easily give back all the gain tomorrow. See LOL!'s Market Timing Newsletter.

The next runner-up in my portfolio is X (US Steel), up 8.55% today. So, I hope that if MelBay 401k was really up 12.4% in one day, he would tell us what he held.
Um, you think his 401K would let him buy those things? LOL!
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Old 01-02-2013, 09:57 PM   #22
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No, not the leveraged ETFs, but he could be working for a small company, and they let him put it all on their stock.

Speaking of putting it "all in", my wife's former megacorp (a big financial corp that has been one of the Dow 30s forever) used to let its employees buy 100% company stock. They now limit employee 401k to 30% company stock.

I advised my wife to sell and get all out in 2008! She used to have 50% in it, and it did very well through her 29-yr employment career.
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Old 01-02-2013, 10:09 PM   #23
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Some of youse guys are gonna jinx us all...

I assume the next time the market dives you'll report that you'll be bankrupt in X days.
In 2008, I often reported my days to bankruptcy, I didn't need too many -100K+ days to hit it.

But after today I am happy to report that if my portfolio continues to perform as well as today I will join the Billionaire ranks shortly before my birthday in Aug.
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Old 01-03-2013, 05:39 PM   #24
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The most unlucky scenario would be if I became a billionaire this year. That would have meant hyperinflation Zimbabwe style. No, nobody can be that pessimistic!

And if the market tanks? Hey, misery loves company. Remember all the camaraderie here during the Great Recession of 2008-2009, when people licked their wound at market close and commiserated about the money lost that day? Without down periods, life would be dull.
Careful now! Some times we do get what we wish for. But with the two given ones I don't find myself very wishful at all...
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Old 01-03-2013, 06:00 PM   #25
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Hmm... I looked at the two scenarios I described, and indeed it would be tough to choose between a rock and a hard place.

Sorry that I have not been more generous, but few people ever accuse me of being an optimist.
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Old 01-03-2013, 09:44 PM   #26
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How's this for bad luck. My wifes company moved their 401K from John Hancock to Vanguard on 12/31. Why is this bad luck? Because all of her assets in the old 401K were sold at the end of business on 12/31 and weren't reinvested in Vanguard until after close today! We were totally out of the market today due to no fault of our own. UGH! Figured it cost us at least $10K. Oh well. As long as the market continues these gains the rest of the year.......
I'm guessing that given the expense difference between Vanguard and John Hancock that despite the unfortunate timing of the transition that you will come out ahead in the long run.

Why didn't they buy into Vanguard on 12/31 on the same day the Hancock assets were sold? Or move the Hancock assets to Vanguard?
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Old 01-03-2013, 09:49 PM   #27
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In 2008, I often reported my days to bankruptcy, I didn't need too many -100K+ days to hit it.

But after today I am happy to report that if my portfolio continues to perform as well as today I will join the Billionaire ranks shortly before my birthday in Aug.
I am going to see that as a "whee!" post.

Ha
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