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01-20-2009, 06:00 PM
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#21
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jan 2008
Location: NC
Posts: 21,148
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Quote:
Originally Posted by Martha
There is nothing left to say.
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My sentiments exactly. DW was layed off today, but we'll be OK. Looking forward to the new economic expansion, but not expecting it soon. 2010?
__________________
No one agrees with other people's opinions; they merely agree with their own opinions -- expressed by somebody else. Sydney Tremayne
Retired Jun 2011 at age 57
Target AA: 50% equity funds / 45% bonds / 5% cash
Target WR: Approx 1.5% Approx 20% SI (secure income, SS only)
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01-20-2009, 06:05 PM
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#22
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Moderator Emeritus
Join Date: Jan 2007
Location: New Orleans
Posts: 47,468
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Quote:
Originally Posted by Midpack
My sentiments exactly. DW was layed off today, but we'll be OK. Looking forward to the new economic expansion, but not expecting it soon. 2010?
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I am so sorry to hear this! Glad you will be OK, but still, it probably isn't what you had hoped or planned.
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities. - - H. Melville, 1851.
Happily retired since 2009, at age 61. Best years of my life by far!
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01-20-2009, 06:32 PM
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#23
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Dryer sheet aficionado
Join Date: Jan 2009
Posts: 40
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I see the market continuing to spiral downward. I plan to buy SDS (ETF - Ultrashort S&P) very shortly.
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01-20-2009, 06:34 PM
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#24
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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 TheSweetLife
I see the market continuing to spiral downward. I plan to buy SDS (ETF - Ultrashort S&P) very shortly.
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Let us know when you do it please!
ha
__________________
"As a general rule, the more dangerous or inappropriate a conversation, the more interesting it is."-Scott Adams
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01-20-2009, 07:01 PM
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#25
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Moderator Emeritus
Join Date: Feb 2005
Location: San Diego
Posts: 5,267
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I was telling some others I'm experiencing some survivor guilt. DW and I are buying as much stock as we can every month (which will probably only be $30k this year) while continuing to pay extra on the house. For us, in our early 30's, this downturn couldn't be better timed as we finally have the income to "buy in". But I consider many here as friends and hate to see the suffering.
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01-20-2009, 07:03 PM
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#26
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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 laurence
I was telling some others I'm experiencing some survivor guilt. DW and I are buying as much stock as we can every month (which will probably only be $30k this year) while continuing to pay extra on the house. For us, in our early 30's, this downturn couldn't be better timed as we finally have the income to "buy in". But I consider many here as friends and hate to see the suffering.
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Laurence, you say that so nicely and sincerely that I don't even get mad at you.
Ha
__________________
"As a general rule, the more dangerous or inappropriate a conversation, the more interesting it is."-Scott Adams
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01-20-2009, 07:13 PM
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#27
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Gone but not forgotten
Join Date: Jan 2007
Location: Sarasota,fl.
Posts: 11,447
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As I was staring at my windows deciding if I should jump I noticed they really need to be washed .
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01-20-2009, 07:36 PM
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#28
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Thinks s/he gets paid by the post
Join Date: Dec 2004
Location: Minneapolis
Posts: 4,455
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Quote:
Originally Posted by Moemg
As I was staring at my windows deciding if I should jump I noticed they really need to be washed .
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Well, are they clean now?
__________________
May we live in peace and harmony and be free from all human sufferings.
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01-20-2009, 07:51 PM
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#29
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Gone but not forgotten
Join Date: Jan 2007
Location: Sarasota,fl.
Posts: 11,447
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Quote:
Originally Posted by Spanky
Well, are they clean now?
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No , today I watched the inauguration maybe tomorrow ! I have three stories of windows in the front of my house so cleaning them is a major job .
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01-20-2009, 08:06 PM
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#30
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2004
Location: SW Ohio
Posts: 14,404
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Quote:
Originally Posted by haha
Not a garden variety panic, and although intervention has been huge I believe that much of it has been corrupt and wrong headed. It has certainly not been effective.
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Unfortunately, we don't know that the bailout hasn't been effective. We can't know just how bad the market and our financial system would have been without the giveaway. Those who think it was a good idea probably think it was just too little, or not done in some particular way that they would favor, and there are already calls for much more of the same. Yep, with just more money everything will be fine. It's only money--our money.
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01-20-2009, 08:10 PM
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#31
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Gone but not forgotten
Join Date: Jan 2007
Location: Sarasota,fl.
Posts: 11,447
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Quote:
Originally Posted by Midpack
My sentiments exactly. DW was layed off today, but we'll be OK. Looking forward to the new economic expansion, but not expecting it soon. 2010?
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Sorry to hear but doesn't your wife have that incredible sewing ability ? Maybe she could do that part time while looking for a new job . I love personalized purses .
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01-20-2009, 09:11 PM
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#32
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 37,931
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I've been too busy working on my alligator video to panic!
I rebalanced on 1/15. That was way better than rebalancing on 1/2 or 1/3, but another big spiral down right afterwards will be disappointing.
Unless we have a huge rally (causing a "good" rebalance!) I will be sitting on my hands for the rest of the year. I'm already down to my minimal years worth of cash + bonds, so I can't buy anymore dips in equities this year. In a way this is quite liberating as I can go off and do other things and not pay attention to how bad the market gets. Maybe by Jan of 2009 things will have settled down. We can only hope.
Midpack - bummer about the wife's layoff!
Audrey
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01-20-2009, 11:07 PM
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#33
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Oct 2006
Posts: 7,733
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I have to say today's plunge really was a shock. I thought with all of the goodwill from the Obama inauguration, plus nice feel good stories like the miracle on the Hudson, that investors would be a little less fearful. I guess not.
I have gone through Plans A-G and I am starting to run out of letters in the alphabet. Maybe Audrey's plan just forget the market this year is starting to look better.
"De Nile is not just a river in Africa it is also coping strategy."
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01-20-2009, 11:15 PM
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#34
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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 clifp
I have to say today's plunge really was a shock. I thought with all of the goodwill from the Obama inauguration..
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Maybe you have something here...
Ha
__________________
"As a general rule, the more dangerous or inappropriate a conversation, the more interesting it is."-Scott Adams
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01-20-2009, 11:34 PM
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#35
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2008
Posts: 35,712
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Quote:
Originally Posted by haha
BTW, I think I made a fundamental error earlier this fall by assuming that this situation was a garden variety panic, and that governmental intervention would be huge and effective.
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I remember a past poll about how we would compare the current economic condition to the dotcom bust and 9/11 period. I was among the minority to vote for "about the same".
While it remains true up to this point that my financial situation is better than it was back then (knock on wood), I will admit that I was wrong. This financial crisis reaches much deeper than the last bear market. Banks around the world are having problems. There are talks of stimulus and bailouts in France, England, Germany, Singapore, etc... You name it.
I think people may slowly realize that the current financial crisis is not caused by a single person (now a former president, who of course could be blamed for other bad policies), hence a presidency change will not bring immediate relief.
I have been preparing myself to hunker down for a few lean years. I will survive this.
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01-21-2009, 06:51 AM
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#36
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Moderator Emeritus
Join Date: Jan 2007
Location: New Orleans
Posts: 47,468
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Quote:
Originally Posted by audreyh1
I'm already down to my minimal years worth of cash + bonds, so I can't buy anymore dips in equities this year.
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I am feeling that way, too. As of this morning my portfolio is unbalanced by 3% (instead of 45:55, it is now 41.8:58.2). I am thinking about rebalancing, but I don't want my cash to go much below where it is now. Besides, who knows? Yesterday's drop might only last a day or two. If the Dow stays below 8000 for a couple of months, then maybe I might rebalance.
Quote:
Originally Posted by clifp
I have to say today's plunge really was a shock. I thought with all of the goodwill from the Obama inauguration, plus nice feel good stories like the miracle on the Hudson, that investors would be a little less fearful. I guess not.
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I was shocked, too. I was SO SURE that the market would soar and I am so perplexed.
Quote:
Originally Posted by NW-Bound
I have been preparing myself to hunker down for a few lean years. I will survive this.
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We all will, and once we have we will have stories to tell our grandchildren - - just like the stories many of us heard about the Great Depression from our parents or grandparents. And they will roll their eyes just like many of us did when hearing those stories many years ago.
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities. - - H. Melville, 1851.
Happily retired since 2009, at age 61. Best years of my life by far!
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01-21-2009, 07:08 AM
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#37
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Recycles dryer sheets
Join Date: Nov 2008
Posts: 131
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The bad news is stocks might just be getting close to long term trend
S&P Regression to Trend | The Big Picture
They're far away from a bear market bottom in the traditional sense. Unfortunately stocks have been too expensive for a decade or more.
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01-21-2009, 09:00 AM
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#38
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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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This market is starting to look like late September and October again with significant rallies being sold off sharply...
I'm done "averaging down" and "rebalancing" for the foreseeable future.
__________________
"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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01-21-2009, 09:06 AM
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#39
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Moderator Emeritus
Join Date: Sep 2007
Posts: 17,773
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Quote:
Originally Posted by Architect
The bad news is stocks might just be getting close to long term trend
S&P Regression to Trend | The Big Picture
They're far away from a bear market bottom in the traditional sense. Unfortunately stocks have been too expensive for a decade or more.
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I feel like everything has been too expensive for a decade or more.
__________________
“Would you like an adventure now, or would you like to have your tea first?” J.M. Barrie, Peter Pan
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01-21-2009, 09:06 AM
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#40
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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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Quote:
Originally Posted by Bestwifeever
I feel like everything has been too expensive for a decade or more.
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And the problem is, it's only our assets that are correcting in price, not expenses (other than gas prices)...
__________________
"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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