Here comes the recovery...

[Gpond]

I guess the Buckets 1 and 2 would have to get larger, like 20 years. And God help us if it becomes more than 20.

He spent the whole three hours giving stats on if you are out of the market for a week when the market recoveries you will lose 18%.

Thank goodness I can't listen to him in Saudi.

 

[Moemg]

I decided to also help the recovery effort . I sold my AIG stock . I only had a small amount but I felt like I had to sell something because my psych has definitely had enough .

 

[Gpond]

The last financial stock I have left:

J.P. Morgan Chase cuts dividend 86% in bid to defend capital base

 

[Frugality_of_Apathy]

I'm gonna hold out until Ziggy starts buying gold or sells his index funds.

 

[ziggy29]

I'm gonna hold out until Ziggy starts buying gold or sells his index funds.

True. This is only a baby step affecting new contributions. But I do have a little bit of gold, but no more than my usual AA for gold miners (3-5%).

 

[Dawg52]

I decided to also help the recovery effort . I sold my AIG stock . I only had a small amount but I felt like I had to sell something because my psych has definitely had enough .

Enough left to buy coffee for 2009? Looks like we are headed right down the toilet. DOW 6,000 not only a possibility, just a matter of when. By the end of the week? What then.......DOW 3,000?

 

[MichaelB]

Enough left to buy coffee for 2009? Looks like we are headed right down the toilet. DOW 6,000 not only a possibility, just a matter of when. By the end of the week? What then.......DOW 3,000?

My message is as follows: stocks stink and will continue to do so until they're priced appropriately, probably somewhere around Dow 5,000, S&P 650, or NASDAQ God knows where.

PIMCO - IO September 2002

Bill Gross took a lot of crap for this, but he must be feeling a bit revindicated...

 

[W2R]

Enough left to buy coffee for 2009? Looks like we are headed right down the toilet. DOW 6,000 not only a possibility, just a matter of when. By the end of the week? What then.......DOW 3,000?

<~~ sorry to be a copycat!

Checking how the market did today was like getting the air knocked out of me by a kick in the stomach. Let's hope that Ziggy is right, and the market will begin a strong recovery shortly!

- - W2R, briefly checking in from a vacation to our tentative ER location in southwestern Missouri - - but I won't let the market spoil our fun!

 

[crispus]

Big Panic day we have over 220 posters on FIRE and money. Hey MichaelB can you send me the dregs?

 

[FIREd]

Enough left to buy coffee for 2009? Looks like we are headed right down the toilet. DOW 6,000 not only a possibility, just a matter of when. By the end of the week? What then.......DOW 3,000?

I am ready to take it down to DOW 4,000. If we go below that level, I'll be so disgusted that I'll pull a "Ziggy" and stop putting any new money in the stock market (maybe forever?).

 

[bbbamI]

Let's dance....

YouTube - Le Freak - Chic Live at Hammerstein Ballroom

 

[Dawg52]

<~~ sorry to be a copycat!

No problem, my patent expired.

 

[ziggy29]

Suddenly, those attitudes about money we remember hearing from those old curmudgeons who lived through the 1930s don't seem as quaint, bizarre and antiquated any more, do they?

 

[bbbamI]

Shhh....I'm trying to remember.....

 

[DblDoc]

Damn it I missed the memo. Bought a whole bunch today. And to think I was PO'd that I didn't get to buy friday.

In the voice of Elmer Fudd: This wide is getting scawwy...

DD

 

[W2R]

Shhh....I'm trying to remember.....

I think it was something about pay off your house, don't owe anything to anybody, don't invest in the stock market because that's just gambling, grow your own vegetables and barter, and hide your money in the attic if it's not buried in the backyard. There was also something about giving a stranger a meal in exchange for odd jobs.
.... It really HAS been a long time.

 

[bbbamI]

I think it was something about pay off your house, don't owe anything to anybody, don't invest in the stock market because that's just gambling, grow your own vegetables and barter, and hide your money in the attic if it's not buried in the backyard. There was also something about giving a stranger a meal in exchange for odd jobs.
.... It really HAS been a long time.

Oh yeah...that was it! But you left out "Dagnabit!".....

 

[W2R]

Oh yeah...that was it! But you left out "Dagnabit!".....

"By cracky", I did, dagnabit!

 

[cantlogin]

Paul Vocker says U.S. capitalism model has failed.

I.E. SHTF.

Actually, in that clip, he said capitalism will survive.

I think that's quite a bit different than saying it has failed.

 

[2B]

I'm about to do the same thing as Ziggy. I'm sick and tired of being sick and tired about the market. Our "leadership" politically and economically resembles the Keystone Cops but I'm afraid I'm insulting the Keystone Cops when I type this.

I have a second contract on our house. If this one goes through, I will get a little over $60K but there's no way it's going into the market. My father's annuity money is about to come my way (~$20K) and it won't see the market either.

 

[shotgunner]

I too am tired of the constant din of bad news regarding the market and it being the talk of the day everywhere I go.

Look at the bright side, just another 7100 points to go and we'll be done with it and can move on.

 

[MichaelB]

I'm no sure which thread to post in - there's so much negativity out there.

Hasn't everyone here had a moment in the past decade when they said - "I wish I had invested in more equities back then - they were so cheap, and my portfolio would be much higher today. If I only could go back in time..."

Well, this decline in equity markets is creating a moment like that - an opportunity that we will regret not taking advantage of. I'm not saying it's right now or that equities aren't gonna go down any more, but 5 - 10 years from now there's gonna be lots of folks sayin' once again - If I had bought then, we would be in much better shape financially today.

 

[73ss454]

You may be right but I just can't see the forest for the trees.

 

[Dawg52]

I'm skipping born loser status........

moving directly to full thumb sucking mode. When we officially move into a depression, back to dear old mothers womb.

 

[unclemick]

Hold the market! Hold the Depression!. I'll get back to youse on that stuff.

She just got off the phone - if the stuff the Doc gave her Granddaughter fails(he doesn't want to work Mardi Gras day) - it's twins. The husband is pacing and mumbling to himself - always a good sign.

Tell Mr Market to hold on and the fate of the Free World economy to stay hanging in the balance - I gotta get to New Orleans and eat a Muffuletta while the women do whatever they do when people have babies.

heh heh heh - We'll send for the US Cavalry later.