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CNN: The Market Going Down 60%
04-16-2013, 11:30 AM
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#1
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Thinks s/he gets paid by the post
Join Date: Jul 2003
Location: Pasadena CA
Posts: 3,346
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CNN: The Market Going Down 60%
Saw it on CNN, it must be true, fellow has a good record and great charts:
Market Collapse Predicted By Scientist
Funny, I am not selling off my equities for bonds or cash or gold. Nothing I can do with this precious information.
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T.S. Eliot:
Old men ought to be explorers
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04-16-2013, 11:35 AM
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#2
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Thinks s/he gets paid by the post
Join Date: Jul 2009
Location: North Scottsdale
Posts: 1,545
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funny....I saw a report that said the market was going UP 60%!
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FIRE'D in July 2009 at 51...Never look back!
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04-16-2013, 11:51 AM
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#3
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Thinks s/he gets paid by the post
Join Date: Jul 2011
Location: Bernalillo, NM
Posts: 2,717
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Quote:
Originally Posted by yakers
Saw it on CNN, it must be true, fellow has a good record and great charts:
Market Collapse Predicted By Scientist
Funny, I am not selling off my equities for bonds or cash or gold. Nothing I can do with this precious information.
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the point of every MoneyNews article I've seen is to try to sell some service to you.
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"We live the lives we lead because of the thoughts we think" ...Michael O’Neill
"We can cannot compel others to do our will" ....Norman Goldman
"There never is shortage of the gullible to accept the illogical"...Anonymous
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04-16-2013, 12:11 PM
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#4
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Recycles dryer sheets
Join Date: Sep 2012
Posts: 73
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If you read it on the internet, it must be true!
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04-16-2013, 12:24 PM
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#5
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Thinks s/he gets paid by the post
Join Date: Feb 2007
Location: Moscow
Posts: 1,572
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Quote:
Originally Posted by marc515
If you read it on the internet, it must be true!
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But... But... But... He had CHARTS!
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You can't enlighten the unconscious.
But you can hit'em upside the head a few times to make sure they are really out...
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04-16-2013, 12:32 PM
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#6
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gone traveling
Join Date: Mar 2007
Posts: 559
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04-16-2013, 12:49 PM
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#7
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Thinks s/he gets paid by the post
Join Date: Nov 2012
Location: Madeira Beach Fl
Posts: 1,403
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Quote:
Originally Posted by marc515
If you read it on the internet, it must be true!
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And I'm a French model: "Bonjour!"
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_______________________________________________
"A man is a success if he gets up in the morning and goes to bed at night and in between does what he wants to do" --Bob Dylan.
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04-16-2013, 01:24 PM
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#8
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2008
Posts: 6,506
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Will that be before or after the asteroid hits?
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There must be moderation in everything, including moderation.
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04-16-2013, 01:30 PM
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#9
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Thinks s/he gets paid by the post
Join Date: Feb 2007
Posts: 2,525
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Good ol' Newsmax. The best source for totally unbiased information in the entire planet.
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04-16-2013, 02:05 PM
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#10
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Dec 2008
Posts: 12,655
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Two years ago, we attended one of those "free" dinners hosted by a FA. His pitch was that the market will continue to be "sideways" until 2020, and therefore we should all buy a "sound financial plan," plus alternative investments - from him.
Last week, we attended another dinner (theme was "retirement planning), where the FA's pitch was that the market will go even higher, then crash, and the way to survive the inevitable crash is to pay him for a sound financial plan, plus alternative investments - where we are guaranteed not to lose everything, because he uses stop-losses.
I always wonder why these crystal ball gazers still need to work at selling financial services to other people. Why don't they take their billions and retire to an island?
Amethyst
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If you understood everything I say, you'd be me ~ Miles Davis
'There is only one success – to be able to spend your life in your own way.’ Christopher Morley.
Even a blind clock finds an acorn twice a day.
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04-16-2013, 02:28 PM
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#11
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Thinks s/he gets paid by the post
Join Date: Feb 2012
Location: Tampa Bay Area
Posts: 1,866
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Well apparently the article is good news !
Quote:
The first “top” was in 1999, followed by a 60% market decline. The second “top” was in 2007, again followed by a 60% market plunge. And a third top has now formed, and a 60% stock market drop is inevitable - and it could strike at any moment.
Unfortunately, Martenson is not the only economist predicting a massive, historic meltdown.
In fact, his figures are conservative compared to other experts in his field.
In a recent interview, Robert Wiedemer — an economist best known for correctly predicting the collapse of the U.S. housing market of 2006 and the stock market collapse of 2008 — provides disturbing evidence for 50 percent unemployment, a 90 percent stock market crash, and 100 percent annual inflation . . . starting this year.
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"For the time being no discipline brings joy, but seems grievous and painful; but afterwards it yields a peaceable fruit of righteousness to those who have been trained by it." ~
Hebrews 12:11
ER'd in June 2015 at age 52. Initial WR 3%. 50/40/10 (Equity/Bond/Short Term) AA.
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04-16-2013, 04:18 PM
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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: Apr 2004
Location: South Texas~29N/98W Just West of Woman Hollering Creek
Posts: 6,674
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Didn't I recently read something about Jack Bogle saying that the market could drop 50%? 50%...60%?
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Outside of a dog, a book is man's best friend. Inside of a dog, it's too dark to read. Groucho Marx
In dire need of: faster horses, younger woman, older whiskey, more money.
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04-16-2013, 04:57 PM
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#14
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Thinks s/he gets paid by the post
Join Date: Mar 2004
Posts: 3,433
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Quote:
Originally Posted by GalaxyBoy
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from David Lereah Watch.....
David Lereah Watch
David Lereah is the former Chief Economist and Senior VP of the National Association of Realtors (NAR). Between 2001 and 2007, Mr. Lereah regularly made statements regarding the housing bubble. The media regulary turned to him for real estate quotes. He was very influential. Mr. Lereah tells half truths and manipulates facts and figures. He cannot be trusted as he was a paid shill.
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04-16-2013, 05:28 PM
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#15
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Thinks s/he gets paid by the post
Join Date: Feb 2012
Location: Tampa Bay Area
Posts: 1,866
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Quote:
Quote:
CNBC anchor Scott Wapner put the question to Bogle: "You say, 'prepare for at least two declines of 25-30 percent, maybe even 50 percent, in the coming decade.' For a buy-and-hold guy, that's a little concerning, don't you think?"
Bogle replied:
Not at all. They come and go. The market goes up, and the market goes down. It's never failed to recover from one of those 50 percent declines.
I went through one in 1973-1974, I went through one in 2001, 2002, 2003; I went through another one 2008-2009. They're kind of scary – often terrifying – but it's typical.
Why it doesn't bother me is if you hang on through the cycle, that's the only way to invest. Trying to guess when it's going to go way up or way down is simply not a productive way to put your money to work.
Bogle's comments don't represent any sort of shift in his philosophy – he remains as big a proponent of buy-and-hold investing as ever.
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Quote:
Re the comment above about Jack Bogel predicting a 50% market decline-- he did, over the next decade. And that would be after it goes up first, I'm sure.
__________________
"For the time being no discipline brings joy, but seems grievous and painful; but afterwards it yields a peaceable fruit of righteousness to those who have been trained by it." ~
Hebrews 12:11
ER'd in June 2015 at age 52. Initial WR 3%. 50/40/10 (Equity/Bond/Short Term) AA.
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04-17-2013, 12:19 AM
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#16
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Thinks s/he gets paid by the post
Join Date: Sep 2010
Location: midwestern city
Posts: 4,061
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Whatever the market does, I have been advised by my friends on this website to keep the Wellesley I bought a few weeks ago. A thread was started on this topic. BUY AND HOLD :-)
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Very conservative with investments. Not ER'd yet, 48 years old. Please do not take anything I write or imply as legal, financial or medical advice directed to you. Contact your own financial advisor, healthcare provider, or attorney for financial, medical and legal advice.
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04-17-2013, 12:34 AM
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#17
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Thinks s/he gets paid by the post
Join Date: Sep 2009
Location: Hong Kong
Posts: 1,688
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Budgeting is a skill practised by people who are bad at politics.
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04-17-2013, 05:43 AM
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#18
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Dec 2008
Location: On a hill in the Pine Barrens
Posts: 9,719
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The market will go down.
At some point in time.
And then it will go back up.
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04-17-2013, 06:00 AM
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#19
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Apr 2012
Posts: 6,176
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Quote:
Originally Posted by target2019
The market will go down.
At some point in time.
And then it will go back up.
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+1
I'm always amused by these "predictions", as with anything cyclic one can predict it going up or down and occasionally be right. As the saying goes, "even a blind squirrel can find a nut every once in a while".
What is sadder is that the news media doesn't convey this message. When it goes down, they generally act as if it will never go up again. When it goes up, they act as if it eventually going down again will can panic in he streets, cats and dogs living together, etc. But I guess taking the calm and steady view doesn't draw enough eyes to sell advertising space or attract website hits.
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FIREd date: June 26, 2018 - "This Happy Feeling, Going Round and Round!" (GQ)
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04-17-2013, 06:30 AM
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#20
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Recycles dryer sheets
Join Date: Jun 2012
Location: Central Ga
Posts: 230
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Quote:
Originally Posted by Amethyst
I always wonder why these crystal ball gazers still need to work at selling financial services to other people. Why don't they take their billions and retire to an island?
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Quite a few did - retired comfortably - right after the last crash...
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If you want someone to believe in you - First you have to believe in yourself and then you go from there...
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