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Is it just me, or are you also seeing...
11-12-2008, 02:05 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 2005
Location: North Oregon Coast
Posts: 16,483
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Is it just me, or are you also seeing...
...and hearing more people who had previously been committed to buying and holding, people who were committed to hang on to eventually get their losses back, throwing in the towel and surrendering?
Seems like everywhere I turn, I'm starting to hear a lot more of that. I wasn't hearing that as recently as two weeks ago. But since last Tuesday, the incessant water torture decline seems to be setting many people over the brink. I think many of them sense it will be a terrible long-term decision...but they just can't take it any more.
__________________
"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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11-12-2008, 02:07 PM
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#2
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Thinks s/he gets paid by the post
Join Date: Feb 2007
Posts: 1,250
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My FIRE'd parents are not changing anything drastically - hanging in there. We just discussed this last night. All is well - could be better, but they planned well.
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Make no mistake, my friend, it takes more than money to make men rich. - A. P. Gouthey
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11-12-2008, 02:18 PM
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#3
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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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Quote:
Originally Posted by ziggy29
Seems like everywhere I turn, I'm starting to hear a lot more of that. I wasn't hearing that as recently as two weeks ago. But since last Tuesday, the incessant water torture decline seems to be setting many people over the brink. I think many of them sense it will be a terrible long-term decision...but they just can't take it any more.
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This is what a bear market does - it wipes the table clean of all the old adages.
It is a good sign that all the buy and holders say they are getting out.
__________________
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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11-12-2008, 02:19 PM
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#4
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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: 50,000
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Quote:
Originally Posted by dex
It is a good sign that all the buy and holders say they are getting out.
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All? Not this one - at least not yet.
__________________
Numbers is hard
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11-12-2008, 02:44 PM
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#5
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Moderator Emeritus
Join Date: Sep 2007
Posts: 17,773
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Hard to stomach that you're planning to live on 4% annually and then see the markets drop that much week after week. Hard to imagine how long they will take to recover.
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11-12-2008, 03:07 PM
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#6
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Thinks s/he gets paid by the post
Join Date: Aug 2007
Posts: 1,224
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Shhhh!
You're supposed to say you are bailing while secretly sitting tight .
DD
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11-12-2008, 03:09 PM
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#7
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Thinks s/he gets paid by the post
Join Date: Dec 2007
Posts: 4,764
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Quote:
Originally Posted by ziggy29
...and hearing more people who had previously been committed to buying and holding, people who were committed to hang on to eventually get their losses back, throwing in the towel and surrendering?
Seems like everywhere I turn, I'm starting to hear a lot more of that. I wasn't hearing that as recently as two weeks ago. But since last Tuesday, the incessant water torture decline seems to be setting many people over the brink. I think many of them sense it will be a terrible long-term decision...but they just can't take it any more.
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Or maybe they are making the right decision But yes I have notice an increase in what you are talking about.
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11-12-2008, 03:14 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: Nov 2007
Posts: 5,596
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Not buying and not selling. I think the market has a way to go yet to reach bottom. Since I actually have a higher percentage of my net worth in real estate (home and rental) I'm actually more worried about the housing market. I don't think it's reached the bottom yet either.
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I purr therefore I am.
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11-12-2008, 03:17 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: Jun 2002
Location: Texas: No Country for Old Men
Posts: 50,000
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Quote:
Originally Posted by DblDoc
Shhhh!
You're supposed to say you are bailing while secretly sitting tight .
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Ooops! My bad.
At least I left myself a little wiggle room...
__________________
Numbers is hard
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11-12-2008, 03:39 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: Jul 2003
Location: Kansas City
Posts: 7,968
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Quote:
Originally Posted by dex
This is what a bear market does - it wipes the table clean of all the old adages.
It is a good sign that all the buy and holders say they are getting out.
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Been thru a few since 1966. Give the current 'unpleasantness' another 5 to 10 years and we'll be down to the true believers plus by then rental RE may be back as an effective competitor/ alternate/ diversifier.
Heaven help us if we turn back the clock to guns, gold and freeze dryed food/collectibles - coins/dated wine/singlemalt scotch/art/etc/ etc.
Never fun - especially if people with pesky spreadsheets start calculating that you are not keeping up with inflation - dividend/interest wise.
Target Retirement 2015 = 3.8% (me).
pssst Wellesley = 5.8%
heh heh heh - Try and calculate where you should be theory wise for your point in the accumulation/distribution cycle and stock/bond/cash mix and ala Bogle - stay the course. Or take Henry Fonda's line in The Longest Day - if you have landed on the wrong beach - move inland!
. And the boys at the doughnut shop say the Saint's play the Chiefs next - could be a long dreary football season for both - BUT wait til next year - yep just you wait - you'll see.
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11-12-2008, 03:42 PM
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#11
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Apr 2003
Location: Hooverville
Posts: 22,983
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Quote:
Originally Posted by ziggy29
...and hearing more people who had previously been committed to buying and holding, people who were committed to hang on to eventually get their losses back, throwing in the towel and surrendering?
Seems like everywhere I turn, I'm starting to hear a lot more of that. I wasn't hearing that as recently as two weeks ago. But since last Tuesday, the incessant water torture decline seems to be setting many people over the brink. I think many of them sense it will be a terrible long-term decision...but they just can't take it any more.
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Who and where are these people? Most here seem to be holding tight. I don't know enough other people who are interested in investing to have broader information.
Ha
__________________
"As a general rule, the more dangerous or inappropriate a conversation, the more interesting it is."-Scott Adams
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11-12-2008, 03:44 PM
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#12
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Gone but not forgotten
Join Date: Aug 2006
Posts: 6,924
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Quote:
Originally Posted by ziggy29
...and hearing more people who had previously been committed to buying and holding, people who were committed to hang on to eventually get their losses back, throwing in the towel and surrendering?
Seems like everywhere I turn, I'm starting to hear a lot more of that. I wasn't hearing that as recently as two weeks ago. But since last Tuesday, the incessant water torture decline seems to be setting many people over the brink. I think many of them sense it will be a terrible long-term decision...but they just can't take it any more.
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Have seen it on several boards.
Buy high, sell low; that always works.
__________________
"Knowin' no one nowhere's gonna miss us when we're gone..."
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11-12-2008, 03:52 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: Oct 2003
Posts: 5,105
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Then we will never have a bottom. Please get out.
__________________
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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11-12-2008, 04:13 PM
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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: Jul 2003
Location: Kansas City
Posts: 7,968
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Quote:
Originally Posted by dex
Then we will never have a bottom. Please get out.
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Every one will know the end has occurred if I suffer an Intervention by family and friends and go to Treatment for football addiction.
That's when you HELOC the farm and buy stocks hand over fist.
heh heh heh - meanwhile rumor has it the Pat's are a good football team. .
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11-12-2008, 04:15 PM
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#15
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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: 50,000
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Quote:
Originally Posted by dex
Then we will never have a bottom. Please get out.
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OK. Tomorrow. I promise.
__________________
Numbers is hard
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11-12-2008, 04:23 PM
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#16
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Sep 2005
Posts: 5,381
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Quote:
Originally Posted by ziggy29
...and hearing more people who had previously been committed to buying and holding, people who were committed to hang on to eventually get their losses back, throwing in the towel and surrendering?
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There was a recent WSJ article with the idea that "capitulation" more often happens when people just kind of give up and walking away out of frustration then some big cataclysmic sell off accompanied by a very high VIX reading.
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11-12-2008, 04:25 PM
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#17
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Sep 2005
Posts: 5,381
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Quote:
Originally Posted by Bestwifeever
Hard to stomach that you're planning to live on 4% annually and then see the markets drop that much week after week. Hard to imagine how long they will take to recover.
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Funny thing though. Although my assets are down, their yields are up and my expected portfolio income is about the same as it was before.
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11-12-2008, 04:39 PM
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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: Sep 2005
Location: Charleston, SC
Posts: 13,566
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Yes. Very depressing to see ordinarily smart people lose their heads and sell.
__________________
“One day your life will flash before your eyes. Make sure it's worth watching.”
Gerard Arthur Way
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11-12-2008, 05:06 PM
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#19
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Moderator Emeritus
Join Date: Dec 2002
Location: Oahu
Posts: 26,855
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Quote:
Originally Posted by . . . Yrs to Go
Although my assets are down, their yields are up and my expected portfolio income is about the same as it was before.
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That's the way it's supposed to work and that's how you planned it, right?
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Co-author (with my daughter) of “Raising Your Money-Savvy Family For Next Generation Financial Independence.”
Author of the book written on E-R.org: "The Military Guide to Financial Independence and Retirement."
I don't spend much time here— please send a PM.
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11-12-2008, 05:12 PM
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#20
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Sep 2005
Posts: 5,381
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Quote:
Originally Posted by Nords
That's the way it's supposed to work and that's how you planned it, right?
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That's why my retirement feels as secure as ever.
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