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Old 10-28-2008, 10:26 PM   #61
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Sorry for the rant, but this is all beginning to sound like the 9th grade after a pop quiz was announced. Life is still out there. Roll on.
Harley,

Keep up the good spirit.

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Old 10-28-2008, 10:42 PM   #62
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Sorry for the rant, but this is all beginning to sound like the 9th grade after a pop quiz was announced. Life is still out there. Roll on.

Being down a few hundred thousand gives me a reason to bitch, IMO. I don't like it, and never will. But that's just me, I guess.
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Old 10-28-2008, 11:12 PM   #63
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Trust my instincts. Back in 1999 and early 2000, wondered how friends and coworkers could get rich on tech stocks and day trading. I kept wondering how the stock prices could keep going up and up (yes, I had my etrade account with Cisco and Nortel stock too). Guess what - they don't!
Fast forward to the 2004 - 2008, how can so people afford the big homes, luxury cars, designer purses/clothing and exoctic vacations? Guess what - they can't!
Third times a charm - Next bubble I'll pay attention to my gut and adjust accordingly.
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Old 10-28-2008, 11:17 PM   #64
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Life is still out there. Roll on.
Saw a great Harley Davidson bumper sticker today:

"Screw it, let's ride"...........
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Old 10-28-2008, 11:33 PM   #65
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do the large group of people on this forum really think that this crisis is unbearable and unmanageable?
Or is this just the whining of some fairly spoiled brats who have had things going their way for too long?

But things recover. Eventually, sooner or later.

However, I'm a little surprised that the people on this board, who I thought were head and shoulders above the crowd regarding investing and saving and LBTM are throwing out statements like "AA doesn't work", "zeo tolerance for loss", "30 years to recover", things like that. I understand the angst, but not the total desertion of the principals that were so strongly espoused just a few years ago, whether those principals were long term buy and hold, timing, cash, whatever.
I didn't get the impression from anyone's post that this downturn is either unbearable or unmanageable. I think it is clear from the posts that some thought they saw this coming and would have preferred to trust their instincts, what is called by the other camp as dirty market timing.

Whining and fairly spoiled brats are just opinions that you can freely apply as you wish; of the internet. In the world perspective, am I spoiled? heck yeah. i routinely read about the holocaust, poverty, abuse, and world demographics just to remember how good i have it.

Although i don't not think the AA works, I personally don't think any one thing works 100% of the time. And that includes AA. So I'm coming out of my financial closet. Works for me. Saved me alot of potential loss since 10/07.

And i don't think you have to be a card carrying proselyte of the 4 pillars to be a member and post on this board.
there are many ways to reach one's financial goal.
And even the goal can change. I first discovered this board when I was a new mom, a few weeks post partum, working. What normal mom relishes working at the first few weeks post partum time frame? Fast forward a few years, now i can't imagine ever not working, at least part time. And since my line of work pays well enough to live comfortably on PT pay, the goal is no longer super duper retire early but asset maintenance.

The pop quiz analogy is good. i would give myself maybe a 90% on this one. I hated B's in school. An A is best. And preferably 96-100%. So to me the argument of - if you're holding it's ok b/c in 30 y it will all work out, is like grading on the curve.
I don't care about the curve.

ETA: wait a second. 90% is too high, since I obviously fessed up to not following through. So change that to 80%.
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Old 10-29-2008, 01:16 AM   #66
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Being down a few hundred thousand gives me a reason to bitch, IMO. I don't like it, and never will. But that's just me, I guess.
I'm with ya Dawg! This past few months has given me an outlook on things I just never quite experienced before!
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Old 10-29-2008, 04:14 AM   #67
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I learned I am a hero when the market is up, and a coward when the market is down. I am a yellow dog coward when a "black swan" event such as the hedge fund induced panic selling of the last few months turns every stock that has liquidity on the market into a nothing more than fodder for pawn without any reflection of intrinsic value. I am moving into a 10% stock 80% bond/cd and 10% real estate (REIT) position over the next twelve months, selling on market ralleys with the goal to get about even and stay there!
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Old 10-29-2008, 08:31 AM   #68
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I've learned a lot of things about myself and what works for me.

Having very little debt, plus a good emergency fund, has been instrumental in my ability to sleep at night. I vow to make debt elimination a high priority going forward.

The best things in my life are mine to enjoy whether I am able to retire early or not.

Reducing the equities portion of my AA as retirement approaches will be an important part of my plan.

The "Panic of '08" will cause me to be ultra-cautious when planning SWR and cash reserves in retirement.
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Old 10-29-2008, 09:10 AM   #69
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Harley, this board is about the only place that has any optimists (rearranging the deck chairs on the Titanic comes to mind)--in real life? Hah. I'm watching real people lose their jobs and their savings and struggle to get through and hearing real people from lots of different walks of life saying they hate the bailout but it was absolutely imperative. And I'm older than you, but if this is a pop quiz God help us when we have to take the final.
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Old 10-29-2008, 09:37 AM   #70
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if this is a pop quiz God help us when we have to take the final.
That's it. I am dropping the course and settle for an Incomplete.

But do I have to take it again? Do I have another chance (hint: something that the Hindu believe in)?

Seriously, I am hanging in there, trying to get a C. Yesterday, it looked like there's a chance I might get even a B-.

FireDreamer made a well-written post yesterday in "Other Topics" forum, that conveyed much of what I wanted to say.
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Old 10-29-2008, 09:47 AM   #71
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Optimists rule! Because, hey, the alternative is gloom and doom, and heck, I can get that any time I pick up the phone at work!
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Old 10-29-2008, 10:09 AM   #72
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I've always been an optimist to a fault, but have been having trouble keeping my chin up lately. I miss my optimism!!!
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Old 10-29-2008, 10:24 AM   #73
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I really don't think that much can be learned from any of this, other than the limits to reality are very wide. But this will once again be hard to remember when the herd is thundering upward.

Also, I guess you can learn to lighten up exposure if you feel that you are over your head. Beyond that, maybe "always keep some dry powder".

Whatever particulars we might learn from this, we will likely need to unlearn to deal well with the next situation. In my lifetime of investing, I thought I had learned to buy a security whenever it looked right-priced. But this lesson has turned out to be costly this time around. I'm not much for dithering, and this time that has worked against me.

I think it's much like the generals and the last war. Reality is a joker.

But God willing, we'll all feel fine before very long.

Ha
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Old 10-29-2008, 10:30 AM   #74
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1. always have cash as dry pwder
2. I am more willing to accept declines than I had thought
3. NOBODY can predict the future
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Old 10-29-2008, 10:44 AM   #75
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. I miss my optimism!!!
I miss my money!
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Old 10-29-2008, 10:56 AM   #76
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I miss my money!

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Old 10-29-2008, 11:33 AM   #77
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Thanks Ha! I needed that.......
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Old 10-29-2008, 12:25 PM   #78
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Let me have my money back and I will feel warm and fuzzy all over. That's how love feels, right?
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Old 10-29-2008, 12:31 PM   #79
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Let me have my money back and I will feel warm and fuzzy all over. That's how love feels, right?
Sometimes...
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Old 10-29-2008, 12:35 PM   #80
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I miss my money!
I miss John Lennon....
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