|
|
09-30-2008, 03:44 AM
|
#41
|
Thinks s/he gets paid by the post
Join Date: Mar 2006
Location: Houston
Posts: 4,337
|
Quote:
Originally Posted by Bestwifeever
Always capitulate before you go to sleep
(what's the point of a revolution without general, general capitulation, capitulation, capitulation--Marat/Sade)
|
First thing in the morning works too.
We're seeing a total credit lockdown. Banks won't lend to anyone. There isn't any faith that banks will be able to pay them back. I don't know where it will end but I'm convinced it is a self-fulfilling disaster. An effective break in creating value in performing mortgages will go a long way to fixing what's wrong.
Speaking of credit -- My CD from Silver State Bank (defaulted) has finally paid its dividend and the CD was also cashed out by the acquiring bank. The money is in my brokerage account.
__________________
The object of life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane -- Marcus Aurelius
|
|
|
|
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!
Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!
You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!
|
09-30-2008, 05:38 AM
|
#42
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jan 2007
Location: New Orleans
Posts: 47,500
|
No comment! moving right along....
Quote:
Originally Posted by 2B
We're seeing a total credit lockdown. Banks won't lend to anyone. There isn't any faith that banks will be able to pay them back. I don't know where it will end but I'm convinced it is a self-fulfilling disaster. An effective break in creating value in performing mortgages will go a long way to fixing what's wrong.
|
What a mess. I am so lucky that I am older with no need to borrow. Younger people are really going to have to scramble, or borrow from the "Bank of Mom and Dad". Luckily, my daughter hasn't ever done that (yet).
Quote:
Originally Posted by 2B
Speaking of credit -- My CD from Silver State Bank (defaulted) has finally paid its dividend and the CD was also cashed out by the acquiring bank. The money is in my brokerage account.
|
I am so happy for you! Even though nobody has ever lost money from an FDIC insured account, still I would have thought it could take longer had they stepped in. I guess they don't have to if the bank was acquired. At any rate, you have the cash in hand, and what a relief that must be.
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities. - - H. Melville, 1851.
Happily retired since 2009, at age 61. Best years of my life by far!
|
|
|
09-30-2008, 07:11 AM
|
#43
|
Thinks s/he gets paid by the post
Join Date: May 2008
Location: Cooksburg,PA
Posts: 1,873
|
Was it Bernstein that said "diversification fails us when we need it most"?
Anyway, I have been trying to wean myself from market timing. So since I am ERed and completely invested, there is nothing to do but wait for the turnaround.
Free to Canoe
|
|
|
09-30-2008, 07:14 AM
|
#44
|
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
|
Quote:
Originally Posted by Want2retire
Oldbabe, I heard that every stock in the Dow was down today. I have heard it said that this downturn is unusual in that normally uncorrelated assets are sinking simultaneously.
|
That's a big reason why this one feels so sickening. In the tech wreck of 2000-2002, several equity classes went sharply higher (small caps, REITs, emerging markets, precious metals to name a few). As a result someone who had a diversified AA (and not overweight tech) didn't get slaughtered then because gains in these areas mostly offset losses in large cap U.S. stocks.
Contrast that to now, where nothing that's an equity asset class is avoiding the carnage.
__________________
"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)
|
|
|
09-30-2008, 08:03 AM
|
#45
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Sep 2005
Location: Charleston, SC
Posts: 13,566
|
We call that playing coroner...
But yeah, capitulation is getting closer. This fiasco yesterday really got to some of our folks. Boss came back from lunch with a pint of Haagen Daz.
It is times like these that will serve to remind me that when retirement comes, I will have cash reserves for living expenses--it may mean that we live on less, but at least one of us will be sleeping.
__________________
“One day your life will flash before your eyes. Make sure it's worth watching.”
Gerard Arthur Way
|
|
|
09-30-2008, 08:13 AM
|
#46
|
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
|
It certainly shows why the concept of having "buckets" could be useful. Any retiree who put 5-10 years of income needs into "safe" stuff is probably weathering this a lot more easily than someone who didn't.
__________________
"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)
|
|
|
09-30-2008, 08:17 AM
|
#47
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Aug 2006
Posts: 12,483
|
Quote:
Originally Posted by ziggy29
It certainly shows why the concept of having "buckets" could be useful. Any retiree who put 5-10 years of income needs into "safe" stuff is probably weathering this a lot more easily than someone who didn't.
|
Well, the old saying: "Cash is king" is probably appropo at this point.......
__________________
Consult with your own advisor or representative. My thoughts should not be construed as investment advice. Past performance is no guarantee of future results (love that one).......:)
This Thread is USELESS without pics.........:)
|
|
|
09-30-2008, 08:26 AM
|
#48
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 38,145
|
Quote:
Originally Posted by ziggy29
It certainly shows why the concept of having "buckets" could be useful. Any retiree who put 5-10 years of income needs into "safe" stuff is probably weathering this a lot more easily than someone who didn't.
|
Unfortunately the definition of "safe" has become A LOT more narrow.
Audrey
|
|
|
09-30-2008, 09:24 AM
|
#49
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2006
Posts: 12,880
|
When wondering whether we've hit the low, the phrase I listen for is "there's no bottom in sight," which also works for "have we copulated yet?"
And speaking of this, the police chief of a nearby town was recently indicted on charges of raping his wife while she was sleeping. She (a sergeant on the same force) said it happened hundreds of times. Ambien was involved. He was acquitted on those charges but convicted of other things.
__________________
Al
|
|
|
09-30-2008, 09:27 AM
|
#50
|
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
|
Quote:
Originally Posted by TromboneAl
Ambien was involved.
|
So it was a threesome?
__________________
Numbers is hard
|
|
|
09-30-2008, 10:04 AM
|
#51
|
Recycles dryer sheets
Join Date: Jul 2008
Location: ENE MO - near STL
Posts: 424
|
Quote:
Originally Posted by ziggy29
That's a big reason why this one feels so sickening. In the tech wreck of 2000-2002, several equity classes went sharply higher (small caps, REITs, emerging markets, precious metals to name a few). As a result someone who had a diversified AA (and not overweight tech) didn't get slaughtered then because gains in these areas mostly offset losses in large cap U.S. stocks.
Contrast that to now, where nothing that's an equity asset class is avoiding the carnage.
|
Yeah but just think, they should all go up together too, and won't that be fun!
|
|
|
09-30-2008, 02:04 PM
|
#52
|
Thinks s/he gets paid by the post
Join Date: Jun 2005
Posts: 1,543
|
if this wasn't the bottom, i think it will be in a few months on a lower VIX
even after yesterday the charts were still bullish and looked a lot like end of 2002. back then it was pretty bad on July where the VIX hit the same level as now and then a lower low in October on a lower VIX and some averages like the MACD were higher than July.
means that the second drop was a lot faster and people sold out of pure fear where the first drop is more gradual and people still have hope
|
|
|
|
|
Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
|
|
Posting Rules
|
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
HTML code is Off
|
|
|
|
» Recent Threads
|
|
|
|
|
|
|
|
|
|
|
|
|
» Quick Links
|
|
|