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Re: Stock Market Woes
Old 05-17-2006, 09:56 PM   #41
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Re: Stock Market Woes

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Originally Posted by wanderer69
What happened to Lou Pai and the executive who ran Enron Int'l (her name escapes me).* I thought they sold out at the all time high and emerged unscathed.
Or maybe you are referring to the traders - I believe many of them were nailed...
Lou Pai (a very busy guy): http://en.wikipedia.org/wiki/Lou_Pai
Rebecca Mark: http://www.fastcompany.com/magazine/74/enron_mark.html

Neither one came off very well with Kurt Eichenwald or Roger Lowenstein...
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Re: Stock Market Woes
Old 05-17-2006, 09:59 PM   #42
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Re: Stock Market Woes

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Originally Posted by Andre1969
I'm actually proud of myself for not getting panicky with this recent drop.* I don't know what today's little fiasco has cost me, but as of yesterday I figure I was down about $10,000 from my peak, which I hit last week.
Days like these bring reality to what you think your risk tolerance is. *If you start to lose sleep over your losses, it just means you are taking more risk than you thought you could handle.

I'm down over $30K from my peak and I'm sure there are others here that are down double that. *I don't know how much more it would have to drop to get the sweat glands activated, but I'm not there yet. *Then again, I'm not fully retired, so I'm not completely depending on a SWR just yet. That keeps me sleeping like a baby for now.

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Re: Stock Market Woes
Old 05-17-2006, 10:12 PM   #43
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Re: Stock Market Woes

The market teaches people something important.

One does NOT have control of when one does something that depends on money. One has control of doing that something conditional on circumstance, not conditional on time.

Meaning, the market has a lot of control of our lives and that's just the way it is.
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Re: Stock Market Woes
Old 05-17-2006, 10:22 PM   #44
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Re: Stock Market Woes

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Originally Posted by youbet
OK.......... I think.......... Hey, I promised myself I wouldn't retire into a down market, and I'm retiring in seven weeks!

I guess having the first three years in cash might turn out to be a good thing!!

Now, back to reading about early season walleyes.........
Are you from Minnesota? walleyes and the name youbet - very close to youbetcha....
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Re: Stock Market Woes
Old 05-17-2006, 10:25 PM   #45
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Re: Stock Market Woes

I am down 5% this week and am not concerned. I managed to stand pat during The Crash of '87 and the dot-com collapse and a down week doesn't scare me. It is still only a paper loss.

.................................................. .................................................. .

Off-topic: I have the windows open tonight in my apartment in city-centre Calgary and someone is playing pretty good bagpipes with drums in the distance. Far out! The pipes always remind me of my late tanker buddy, who was mad about the pipes. A hero many times over (and a wife to match), who lived and died in a broken body, but with an absolutely indomitable spirit. I think of of the piper at the gates of Tobruk when I think of him.

Lesson: Win or lose, be brave.

Maybe it wasn't off-topic after all.

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Re: Stock Market Woes
Old 05-17-2006, 10:44 PM   #46
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Re: Stock Market Woes

After the rocket ride up the last couple of years, a little retrenching would seem to be in order. Hoping for more hamburgers to become affordable.

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Re: Stock Market Woes
Old 05-17-2006, 10:48 PM   #47
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Re: Stock Market Woes

What does annoy me a bit is that diversification didn't do squat (or only very little) to help. EVERYTHING is red these days..

Cheers!
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Re: Stock Market Woes
Old 05-17-2006, 11:41 PM   #48
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Re: Stock Market Woes

Maybe it only USED to be diversification?

Now everyone knows the same tricks?
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Re: Stock Market Woes
Old 05-17-2006, 11:53 PM   #49
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Re: Stock Market Woes

Yeah, we should have kept our big mouths SHUT instead of helping all those newbies!
Cheers!
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Re: Stock Market Woes
Old 05-17-2006, 11:59 PM   #50
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Re: Stock Market Woes

Not everything is red, ben. Maybe you're not diversified enough. (Of course, if you're not, then goodness help the rest of us!)

It depends on what level you are looking at, too. If you peeked inside some of your funds, you'd find plenty of individual issues that are up.

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Re: Stock Market Woes
Old 05-18-2006, 07:10 AM   #51
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Re: Stock Market Woes

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Originally Posted by HaHa
These past few days have made me feel better about carrying puts. We'll see going forward, but if things continue in this vein I will soon roll down a strike and take a nice bit of change out.
Ha, so you are planning on selling what you have, buying puts with a lower strike, and sitting on the profits? I'm not sure what I want to do. I don't think the blood-letting is over yet even if we get a respite today. I am looking for QQQQ to get to 37.50 or a touch lower before I would e willing to let my puts go.

In the meantime I have been doing a little shopping...
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Re: Stock Market Woes
Old 05-18-2006, 07:19 AM   #52
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Re: Stock Market Woes

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Originally Posted by Maddy the Turbo Beagle


Glad you mentioned BPOP, I have been adding to that one over the last 6 months and looks better now.
What's not to like? Dominant bank in PR, as anyone who has ever been there knows (the only bank branch on Vieques is a Banco Popular). Half their business is in the US and they have an inside track on the hispanic population. They run their business relatively conservatively. And all the other PR banks (DRL, FBP, WHI, etc.) have screwed themselves, so BPOP should have plenty of opportunities in its home market now that competition is substantially lessened.
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Re: Stock Market Woes
Old 05-18-2006, 07:38 AM   #53
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Re: Stock Market Woes

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Originally Posted by DanTien
Are you from Minnesota? walleyes and the name youbet - very close to youbetcha....
No, but I make several pilgrimages to Lake Wobegon annually.
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Re: Stock Market Woes
Old 05-18-2006, 07:43 AM   #54
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Re: Stock Market Woes

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Originally Posted by brewer12345

In the meantime I have been doing a little shopping...
Me too. Right now I'm trying to figure out who's hi-tech fence will be deployed along the border.


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Re: Stock Market Woes
Old 05-18-2006, 07:45 AM   #55
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Re: Stock Market Woes

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Originally Posted by BUM
Me too. Right now I'm trying to figure out who's hi-tech* fence will be deployed along the border.*


That is the wackiest thing I have heard in a long time. And where is the money going to come from? Borrowed from the Chinese, again?
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Re: Stock Market Woes
Old 05-18-2006, 08:31 AM   #56
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Re: Stock Market Woes

Sure makes the "buckets" method look good.
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Re: Stock Market Woes
Old 05-18-2006, 08:46 AM   #57
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Re: Stock Market Woes

Just added up the total loss including yesterday. $17,000. Ouch! I'm still in the black for 2006 though, and this has really only put my net worth back by about 2-3 months, to where I was at in late Feb/early March.

I know why this happened though. You see, last month I decided to splurge on something I didn't need. A 19" flat screen monitor. Paid a whopping $255 for it. See what happens when I spend frivolously thinking "Oh, I have the money for it".

If I hadn't bought that monitor, I might be retired by now!
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Re: Stock Market Woes
Old 05-18-2006, 08:47 AM   #58
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Re: Stock Market Woes

I have to admit that I sucked in a little air when I saw the bottom line yesterday. Until i realized that it included the check clearing for the Pilot purchase.

One I noticed that...not so bad.

Looks a little up today. I think its a head fake.
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Re: Stock Market Woes
Old 05-18-2006, 09:33 AM   #59
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Re: Stock Market Woes

I'll tell ya what I don't understand.

The market was up about 5% in all of 2005. It was up about that at the peak last week. So this means that over a 17 month period there was less than a 10% rise -- and somehow, God knows how, but somehow people who lived through the 90's were talking about how this was an absurd runup and a bubble waiting to pop.

And what's worse is those same people are now talking about the 4% drop of the last few days as if it was a "crash". These are people who saw The Great Crash of 2000 and they still are talking about 4% being devastating.

Weird.
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Re: Stock Market Woes
Old 05-18-2006, 09:37 AM   #60
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Re: Stock Market Woes

I think that is the typical media response to create headlines and sell their wares. They love to distort facts and perfrom shallow reporting. Otherwise, nobody would buy their magazines, WSJ subscription, etc.
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