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Old 10-09-2008, 03:09 PM   #61
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Just heard on CNBC that large blocks of sell orders were still coming in from institutions after closing. I hope that pensions funds, etc. are not giving up on stocks.
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Old 10-09-2008, 03:09 PM   #62
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I don't know about the market but I reached crapitulation today...
Unbelievable day. GM looks like they are going belly up. Thank god I have several years worth of cd's. Looks like I'm gonna need it. Right now, I need another cold one.
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Old 10-09-2008, 03:12 PM   #63
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The good news is that if they do start means-testing Social Security in the future, I'm sure to qualify now...
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Old 10-09-2008, 03:13 PM   #64
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For me, it hurts less simply because I am stunned, and numb. I have no idea of what to expect or what we are really seeing....imminent economic collapse, or just another bear market. I really like reading the posts of so many ER-Forum members, who can see this with more of a long term perspective than I can.
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Old 10-09-2008, 03:14 PM   #65
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The good news is that each time it tanks, the less it hurts because I haven't rebalanced yet. And this market has given me no reason to rush that.
Yeah, as of this morning my AA was down to 59% stocks and 41% bonds/cash (It's usually 65-70% stocks)... At that pace I'll have a much smaller but pretty conservative portfolio in a few days! My spreadsheet says it is time to do some major rebalancing but I don't feel brave enough right now... This market is really testing my bogleheadness....
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Old 10-09-2008, 03:17 PM   #66
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This is testing my ability to not panic. I wish I had sold months ago .
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Old 10-09-2008, 03:22 PM   #67
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This is testing my ability to not panic. I wish I had sold months ago .
Same here. BTW, I wonder how many of the 'millionaire club' are no longer members?
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Old 10-09-2008, 03:23 PM   #68
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Same here. BTW, I wonder how many of the 'millionaire club' are no longer members?
I expect a slew of us them won't be able to come up with next month's dues...
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Old 10-09-2008, 03:24 PM   #69
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I'm wondering if Vanguard will send me a letter telling me about my new designation as a Voyager client.
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Old 10-09-2008, 03:44 PM   #70
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The good news is that if they do start means-testing Social Security in the future, I'm sure to qualify now...


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Old 10-09-2008, 03:48 PM   #71
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This will be a good year for the "worst of times" calculation in FireCalc.

Did all those bad mortgages really cause this? It's impossible. There's got to be more to it.
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Old 10-09-2008, 03:53 PM   #72
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This is testing my ability to not panic. I wish I had sold months ago .
I thought of selling, but I figure it's too late now.

At least it will be cheap to convert that IRA.
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Old 10-09-2008, 04:03 PM   #73
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The market is screaming that our economy is going to be the worst it has been in 70 years. The downsides include the fact that pension funds now are most likely greatly underfunded. When GM goes under that pension fund is going to be a total catastrophe.

The issue is the government has managed to scare everyone into deleveraging instead of rescuing the financial system, while the feds are leveraging up to save as many as possible. My company an S&P500 company - is calling for massive capital cancellations over the next 12 months.

If the economy loses big steam, Uncle Sam is going to experience a large budget deficit. With AIG 60 billion in 10 days, I doubt that this has helped them any.
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Old 10-09-2008, 04:44 PM   #74
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For me, it hurts less simply because I am stunned, and numb. I have no idea of what to expect or what we are really seeing....imminent economic collapse, or just another bear market. I really like reading the posts of so many ER-Forum members, who can see this with more of a long term perspective than I can.
Those are some powerful beer goggles...
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Old 10-09-2008, 04:58 PM   #75
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Did all those bad mortgages really cause this? It's impossible. There's got to be more to it.
No, it was the leverage and "risk mitigation tools" like credit default swaps used on top of the securities containing some bad mortgages that caused the blowup. Leverage can make small (or medium) problems enormous.

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Old 10-09-2008, 05:16 PM   #76
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Not sure whether to laugh or cry, but the drop in my 401k from megacorp has now matched my losses in the real estate meltdown (%-wise).
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Old 10-09-2008, 05:22 PM   #77
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I know the exact date of my personal high -- the day I ignored the voices telling me to dump all my stocks -- October 31, 2007. A day which will live in infamy.
Hey, Zig, you have to stop that talk now. It's going to eat out your heart.
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Old 10-09-2008, 06:33 PM   #78
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I left this morning and drove 100 miles round trip to visit my step-father in his nursing home. He is in such bad shape and it was very depressing. He can't get out of bed, can't talk, has a feeding tube. I had to go in his bathroom and cry, so that he would not see me. I drove home feeling gloomy. I turned on the TV when I got home and had to do a double take when I saw the Dow had lost 678.91. I was surprised the other day when it went below 10,000, but was totally shocked when I saw it is now below 9000. I have to admit that I am starting to get pretty nervous. I thought that I would turn to this site and get my courage bolstered. I guess that we are all on shaky ground. What a crappy day! Oh well, this too shall pass. Also, I read that when most people are starting to panic, we should be getting near the bottom. I hope that is right!
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Old 10-09-2008, 06:39 PM   #79
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Sorry Dreamer, sorta puts the DOW being down in perspective. At least the DOW being down isn't fatal.

I sat through a lot of ups and downs in the market over the year. I'm starting to panic and I hope you're right that panic would indicate a bottom.
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Old 10-09-2008, 06:56 PM   #80
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Vanguard's Admiral / Voyager etc categories ...

I may now qualify for the new category: "Kayak" - they will provide 2 dead squirrels and a box of matches as a benefit ...

I shall go feed the cats, so all will be well.

ta,
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