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"Buy when there's blood in the streets, even if the blood is your own."
09-29-2008, 05:20 PM
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#1
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Oct 2003
Posts: 5,105
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"Buy when there's blood in the streets, even if the blood is your own."
Buy When There's Blood In The Streets
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.
__________________
Sometimes death is not as tragic as not knowing how to live. This man knew how to live--and how to make others glad they were living. - Jack Benny at Nat King Cole's funeral
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09-29-2008, 06:01 PM
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#2
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Full time employment: Posting here.
Join Date: May 2008
Location: Lexington
Posts: 714
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Not that this was timing or anything (I put the order in over the weekend and had been planning it awhile), but my allocation switches from 90/10 to 100/0 at the end of today's closing. If I had more money, I would definitely be buying more at 100/0 if I could.
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09-29-2008, 06:16 PM
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#3
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Recycles dryer sheets
Join Date: Sep 2007
Posts: 464
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Dex:
Unfortunately it is my blood that is in the street.
So it is hard not to hold on to my cash even though I am tempted to buy. I bought some about a week ago and it is much lower than what I paid for now.
mP
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09-29-2008, 06:47 PM
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#4
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Thinks s/he gets paid by the post
Join Date: Oct 2004
Location: LaLa Land
Posts: 4,698
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I slid 10K into Vanguard total stock market today.
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09-29-2008, 06:55 PM
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#5
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2002
Location: Texas: No Country for Old Men
Posts: 50,021
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 Quote:
Originally Posted by 73ss454
I slid 10K into Vanguard total stock market today.
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Thank you for being a blood donor. 
__________________
Numbers is hard
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09-29-2008, 07:28 PM
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#6
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Thinks s/he gets paid by the post
Join Date: Oct 2004
Location: LaLa Land
Posts: 4,698
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I alway do the right thing. Gulp!
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09-29-2008, 07:36 PM
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#7
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Recycles dryer sheets
Join Date: Mar 2005
Posts: 352
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I'm kind of glad I didn't hit the house until after 6 pm. Earlier, had I been at the key board, it would have been a strong temptation to add a little more Vanguard Total Market Index. Listening to the pundits was frightening. How about that BRKB?!
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09-29-2008, 07:57 PM
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#8
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Recycles dryer sheets
Join Date: May 2008
Posts: 479
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Blood in the streets is one thing, but I object when the body parts are blocking the drains!!
Yeesh !
But not as spectacular as some days:
ta,
mews
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09-29-2008, 10:25 PM
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#9
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 38,139
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Yeah, edit that chart to remove any statistic from 1933 and earlier and you'll see today's rank was pretty impressive in terms of the last 75 years.
BTW - -8.8% on the S&P500 and -9.1% on the NASDAQ
Audrey
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09-29-2008, 10:33 PM
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#10
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Thinks s/he gets paid by the post
Join Date: Feb 2008
Posts: 1,281
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I haven't been in the street since May 07. They're gonna have to wash some of that blood (& body parts) out of the street before I go back out there.
__________________
Retired 2009!
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09-29-2008, 10:39 PM
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#11
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Moderator Emeritus
Join Date: Feb 2005
Location: San Diego
Posts: 5,267
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Another $550 went into the market last Friday. The market mocks me. Another $550 goes into the market a week from Friday, maybe it will buy me majority share in a brokerage house!
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09-30-2008, 12:16 AM
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#12
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Recycles dryer sheets
Join Date: Oct 2007
Location: Indonesia
Posts: 62
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Love the quote!
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09-30-2008, 07:03 AM
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#13
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Oct 2005
Location: North Oregon Coast
Posts: 16,483
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Well, it's the last day of the month, which means 401K money gets invested in the market for me. Which means we'll have a one-day upturn so I buy higher, and then down it will go again... 
__________________
"Hey, for every ten dollars, that's another hour that I have to be in the work place. That's an hour of my life. And my life is a very finite thing. I have only 'x' number of hours left before I'm dead. So how do I want to use these hours of my life? Do I want to use them just spending it on more crap and more stuff, or do I want to start getting a handle on it and using my life more intelligently?" -- Joe Dominguez (1938 - 1997)
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09-30-2008, 09:37 AM
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#14
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Feb 2008
Location: East Nowhere, 43N Latitude, NY
Posts: 9,037
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great article - thanks for the link!
__________________
"All our dreams can come true, if we have the courage to pursue them." - Walt Disney
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09-30-2008, 10:47 AM
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#15
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Thinks s/he gets paid by the post
Join Date: Jul 2005
Posts: 4,366
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My next buy target is about 1.5% below Monday's close, so I was close to adding about 3% to equities but didn't quite make it. Looks like I'll have to wait for the next big disappointment. I only have one more 3% to add after this and then I'll have to just wait or borrow.
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