Is it just me, or are you also seeing...

[Grep]

Maybe it's just the circles I run in (I'm a Professor), but I've barely heard a peep from others about the market. Of course, my peers generally have very secure jobs and an excellent pension to look forward to (at least unless they retire early). None of them are showing the least bit of concern, much less panic.

The only people around me that seem interested are my graduate students. I don't quite know what that means, except that most of them are impatient to become rich by the time they are 24 at the latest. I saw a free thin magazine put out for student consumption on finance and the stock market. It was chock full of fluffy pieces of net-worth porn and hip young get-rich-quick Masters of the Universe put out as role models to hook students in: "I made $2M in the markets while still a freshman, and I'm doubling my money every 90 days!" Utter trash.

 

[Zoocat]

I think this cartoon says it all for today.

 

[toofrugalformycat]

I think this cartoon says it all for today.

As DH and I hav gotten older and more hard of hearing, this (altho with many fewer people) is our house this morning!

 

[freebird5825]

oldbabe, here's a public TY for the chuckle. i made the mistake of looking at the market a few minutes ago
i think i'll reset my browser to disable that URL.

 

[CCdaCE]

Do you look anything like your avatar?

Looks like Amanda Peet to me.

-CC

 

[Bestwifeever]

I was sooooo jealous of Want2Retire's blonde and I saw this smart and rather attractive person on TV (who does look something like me--if the lights are really really low and there is vaseline on the camera lens haha--okay, the hair color is the same). Any guesses (and a big ding ding ding! for Leonidas who has already id'd her)?

But I don't think she can compete with W2R's blonde's mystique....

 

[FIREd]

Any guesses (and a big ding ding ding! for Leonidas who has already id'd her)?

Erin Burnett?

 

[Bikerdude]

Any guesses (and a big ding ding ding! for Leonidas who has already id'd her)?

Emily Deschanel.

 

[chinaco]

I know a few people that pulled out of the stock market after losing a lot of money.


Right we are in the middle of bursts of panic selling and manic buying.

IMO - set target for your diversified portfolio and stick with the plan.

 

[CCdaCE]

double post

 

[CCdaCE]

Do you look anything like your avatar?

I was sooooo jealous of Want2Retire's blonde and I saw this smart and rather attractive person on TV (who does look something like me--if the lights are really really low and there is vaseline on the camera lens haha--okay, the hair color is the same). Any guesses (and a big ding ding ding! for Leonidas who has already id'd her)?

But I don't think she can compete with W2R's blonde's mystique....

Looks like Amanda Peet to me.

-CC

I already guessed.

-CC

 

[Bestwifeever]

Here "I" am--

msnbc.com mobile - CNBC.com

(ding ding ding for FireDreamer, too)

 

[haha]

Here "I" am--

msnbc.com mobile - CNBC.com

(ding ding ding for FireDreamer, too)

Not bad at all, BestWife...but a little bit waspy for my taste.

Ha

 

[boont]

Looking Good

Since photos of women were mentioned...

I was working on a movie some years ago, that's what I used to do for a living, and I was in the lunch room between set-ups. This woman walked in and she had jet black hair, white skin, and the most beautiful blue eyes I had ever seen. She was, in short, a "movie star" in looks. She would stop anyone, man or woman in their tracks.

Well, she wasn't the star of the movie, she just played a small part. The star was Lea Thompson (this was probably "Back To The Future", can't remember).

Now, Lea Thompson was an attractive women, no doubt, but in person, not nearly as attractive as the extra.

So we all assemble in dailies to watch the rushes the next evening. In walks the extra, stunning. In walks Lea, her hair in curlers. Looks like a woman with her hair in curlers.

The projectionist drops the lights and rolls the film. The two women are in several scenes together. Lea Thompson jumps off the screen, your eye goes right to her. She looks fantastic, I can't stop looking at her and neither can anyone else. I don't even notice the extra. Her beauty is somehow lost. The camera didn't love her it loved Lea.

That's why you have to do a screen test. Lesson learned.

So, my excuse is, "I look a lot better on film."

boont

 

[Bestwifeever]

Not bad at all, BestWife...but a little bit waspy for my taste.

Ha

But what if "I" am a lady in the living room and a....?

Okay, I'll look for someone a little less waspish (although Erin Burnett on her show is not as cool and collected and pearl necklace as this photo depicts her).

<<<<<<<<<How's this one? One of my idols, and not waspy at all.

 

[Bestwifeever]

Since photos of women were mentioned...

I was working on a movie some years ago, that's what I used to do for a living, and I was in the lunch room between set-ups. This woman walked in and she had jet black hair, white skin, and the most beautiful blue eyes I had ever seen. She was, in short, a "movie star" in looks. She would stop anyone, man or woman in their tracks.

Well, she wasn't the star of the movie, she just played a small part. The star was Lea Thompson (this was probably "Back To The Future", can't remember).

Now, Lea Thompson was an attractive women, no doubt, but in person, not nearly as attractive as the extra.

So we all assemble in dailies to watch the rushes the next evening. In walks the extra, stunning. In walks Lea, her hair in curlers. Looks like a woman with her hair in curlers.

The projectionist drops the lights and rolls the film. The two women are in several scenes together. Lea Thompson jumps off the screen, your eye goes right to her. She looks fantastic, I can't stop looking at her and neither can anyone else. I don't even notice the extra. Her beauty is somehow lost. The camera didn't love her it loved Lea.

That's why you have to do a screen test. Lesson learned.

So, my excuse is, "I look a lot better on film."

boont

That is amazing--and photogenics isn't something one can acquire. I have had people tell me I don't look like my photos which I believe is a backhanded compliment (yuck, look how creepy you look in your photos, you really look better than that)...

 

[big galloot]

Funny you should ask...

I actually had my own personal "capitulation" moment yesterday and dumped about 15% of my port. that was in one stock I've held since the 80's/90's. Old stock options that never hit that "magic number," despite my decreasing it over the years. Just about cried, but today I feel like a new person, all pure, clean and free as a bird. That stock financed my house, my cars, three college educations, some memorable vacations, and a few toys. Clicking that "sell" button was cathartic. Over the past few weeks, I've been to my own personal hell and back a few times wondering how it is I could have let myself lose so darn much. I know it's only money but I'm FIREd and nearly 50 and cannot/will not wait another twenty years just to get back to where I was. Fortunately, I still have a nice chunk of change remaining that I will now guard ever, ever so carefully.

Now I'm finally appropriately diversified with about half cash and "safe" assets, and a nice spread of equities, mostly using index ETFs. I'm thinking about going to more cash, and will probably liquidate most, if not all, stocks on any modest rallies next year.

I think we are now in the first wave of an economic hurricane, which will be followed by a temporary reprieve (the eye), and then watch out for the next wave! Too much damage has been done here, and the timing couldn't be worse with the boomers starting to move beyond their consumer phase like a pig moving through a python. Perfect storm right before a once-a-century meltdown.

Time for new investment paradigms (e.g. solar energy home conversion, serious garden, etc.) that will generate a sure return when nothing else will. The old buy-hold-rebalance equity paradigm will be a fool's game for a spell.

 

[harley]

<<<<<<<<<How's this one? One of my idols, and not waspy at all.

I was very confused with the guesses, I couldn't figure out how Erin Burnett could end up looking like Janis, and why everybody else could figure it out. This replacing avatars on old posts can really throw you off.

Also, I think Janis probably does qualify as a wasp. Father a Texaco engineer in Texas. Not necessarily a debutante type, but definitely white anglo saxon. Not sure about protestant, but she used to sing in the church choir, so the odds are with it.

 

[Bestwifeever]

If Janis died in 1970 and Erin Burnett was born in 1976, perhaps JJ came back as EB?

Technically perhaps Janis was a wasp, but I'm sure at her tea parties she was drinking a little Southern Comfort from those little china cups instead of Earl Grey.

I know what you mean re avatars being replaced on all previous posts but oh well Maybe it's a good thing because my three minute use of Michelle Phillips (looking extremely waspish) didn't last long....

 

[W2R]

I was sooooo jealous of Want2Retire's blonde and I saw this smart and rather attractive person on TV (who does look something like me--if the lights are really really low and there is vaseline on the camera lens haha--okay, the hair color is the same). Any guesses (and a big ding ding ding! for Leonidas who has already id'd her)?

But I don't think she can compete with W2R's blonde's mystique....

Thank you!! I am traveling so did not see your post, or I would have responded earlier. I like your Erin Burnett avatar and I agree that she doesn't look a bit like Janis. I have always wanted to be a blonde (I'm not), so I will just stick with my Eva Habermann avatar.

OK, no more time - - my daughter just got up and we have things to do.

 

[novaman]

...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.

Yep- Had a guy just tell me earlier this week that after the Dot Com bubble burst on him and wiped at over 40% of his portfolio, he abandoned the buy and hold strategy this time around and jumped ship at the beginning of October. Went all into cash

 

[2B]

Thank you!! I am traveling so did not see your post, or I would have responded earlier. I like your Erin Burnett avatar and I agree that she doesn't look a bit like Janis. I have always wanted to be a blonde (I'm not), so I will just stick with my Eva Habermann avatar.

OK, no more time - - my daughter just got up and we have things to do.

I was surfing and came across my new avatar. It looks exactly like me. I'd post my photo to prove it but I have to find the same period costume.

BTW - I'm planning to sell everything in my taxable account next week. Of course, I'm just going to move from SPY and IWD to VTI. I'll capture about 15 years of $3,000 per year of deductions or not have to pay capital gains for a really long time.

 

[oma]

...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.

Still buying, holding here. 45 yr old nearing FIRE, but still dollar-cost-averageing.

 

[2B]

Still buying, holding here. 45 yr old nearing FIRE, but still dollar-cost-averageing.

I said on another post but I'll repeat it here. My target AA is 40% cash but the drop has increased the cash portion to 53%. I have not rebalanced because the original dollar amount that created the 40% level was the amount needed to fully fund a "minimalist" but still decent retirement. I'm protecting that amount.

I am still contributing to my 401k and SERP with the contributions going into S&P500 index funds every 2 weeks. It's about 40% of my gross income so it's not an insignificant amount. I'm also having my mutual funds in my tax protected accounts reinvest the dividends back into mutual fund shares. With any luck, I'll be moving money out of equities and increasing the cash portion the next time I would normally rebalance.

 

[FIREd]

It is getting harder to stay the course. The gloom and doom crowd is coming out of the woodwork. Lots of gloominess here, lots on the diehards board as well, forget about watching TV or reading the news and now I have to deal with depressed/stressed out/pessimistic friends and family members (some have started to hint that they might need financial help soon if things get worse... as if we hadn't been impacted ourselves by this crisis enough already). Sigh... how long can I hold on to my faith in the market and the economy? I might have to unplug the phone, the TV and the internet for a while...