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01-08-2012, 03:15 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: Jul 2008
Posts: 35,712
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Well, I have lost plenty in land deals, forfeited income in start-ups, tech stocks, companies that eventually went bankrupt. I have not added them all up (do I want to?), but none of mine were as much as the OP's condo in a single bad deal (assuming it was paid with cash). Man, that hurts.
One expensive lesson, or numerous little less expensive ones? I am happy with the latter, I think. That gives me more stories to tell.
__________________
"Old age is the most unexpected of all things that happen to a man" -- Leon Trotsky (1879-1940)
"Those Who Can Make You Believe Absurdities Can Make You Commit Atrocities" - Voltaire (1694-1778)
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01-08-2012, 03:26 PM
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#22
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Nov 2010
Location: Sarasota, FL & Vermont
Posts: 36,363
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Bought Evergreen Core Bond fund in my 401k as a core fixed income holding. In 2008 this Evergreen Core Bond fund declined from 10.48/share at the beginning of 2008 to 7.05 at the end of 2008; compared to Vanguard Total Bond being unchanged for the year. After checking it out I found that the bozos running the fund had overloaded on MBS and ended up with their pant's around their ankles and about 1/3 of my money flushed down the drain.
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01-08-2012, 03:54 PM
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#23
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Moderator
Join Date: Jul 2010
Posts: 7,940
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Like NW-Bound, I've had only small modest losses. I guess I remember too well my father talking about losing a lot (for him) in the WPPSS bond default in the '80s: details here for those not old enough to remember it
HistoryLink.org- the Free Online Encyclopedia of Washington State History
We talked a lot about how going after very high returns was risky no matter what anyone told you. That's definitely influenced our investments - although until I saw this thread I hadn't thought of WPPSS in years.
__________________
"One of the funny things about the stock market is that every time one person buys, another sells, and both think they are astute." William Feather
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ER'd Oct. 2010 at 53. Life is good.
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01-08-2012, 04:12 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: Jul 2008
Posts: 35,712
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Quote:
Originally Posted by MBAustin
...We talked a lot about how going after very high returns was risky no matter what anyone told you. That's definitely influenced our investments - although until I saw this thread I hadn't thought of WPPSS in years.
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Oh yes, I remember reading about how some unfortunate retirees lost their entire life savings in this bond.
I do not know what kind of return WPPSS bond gave, but a deal does not have to be perceived to be risky or high-yield for it to become a total loss. Sh*t happens! I remember reading about WPPSS, and telling myself "diversify, diversify, diversify...".
__________________
"Old age is the most unexpected of all things that happen to a man" -- Leon Trotsky (1879-1940)
"Those Who Can Make You Believe Absurdities Can Make You Commit Atrocities" - Voltaire (1694-1778)
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01-08-2012, 06:33 PM
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#25
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Recycles dryer sheets
Join Date: Apr 2010
Posts: 270
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Nortel...enough said.
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01-08-2012, 07:37 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: Nov 2009
Posts: 6,695
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The worst fund I invested in was the Dreyfus Short-term Income fund. I bought shares in 2001 and 2002 but in the next few years all the NAV and monthly yield did was drop. Not even the NAV runup in bond fund NAVs in mid-2003 did much. It completely defied any perceived inverse relationship between NAV and monthly yield. I sold it all out in 2005.
__________________
Retired in late 2008 at age 45. Cashed in company stock, bought a lot of shares in a big bond fund and am living nicely off its dividends. IRA, SS, and a pension await me at age 60 and later. No kids, no debts.
"I want my money working for me instead of me working for my money!"
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01-08-2012, 07:51 PM
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#27
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Dec 2004
Location: the City of Subdued Excitement
Posts: 5,588
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Mutual Shares (now MUTHX).
__________________
I have outlived most of the people I don't like and I am working on the rest.
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01-08-2012, 09:12 PM
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#28
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Full time employment: Posting here.
Join Date: Apr 2008
Posts: 702
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My first home we bought from a developer who went bust before even starting our home.
Another builder took over the project and we were offered a similar home for $10k more and had to wait about 3 years.
We took the deal we only broke even when we sold in a time that others really cashed out on their first home.
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01-08-2012, 10:05 PM
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#29
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Moderator Emeritus
Join Date: Dec 2002
Location: Oahu
Posts: 26,860
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Quote:
Originally Posted by Nova
Nortel...enough said.
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Yeah, do we have to limit ourselves to just one?
In my case, it was when a retired admiral with a great professional/ethical reputation took over as Nortel's CEO. I was sure things were going to turn around.
Turns out he was good at cleaning out the stables, but once that was finished there was nothing left...
__________________
*
Co-author (with my daughter) of “Raising Your Money-Savvy Family For Next Generation Financial Independence.”
Author of the book written on E-R.org: "The Military Guide to Financial Independence and Retirement."
I don't spend much time here— please send a PM.
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01-09-2012, 09:09 AM
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#30
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Dryer sheet wannabe
Join Date: Feb 2010
Posts: 21
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Quote:
Originally Posted by Surewhitey
Great place to live. Just don't invest here if you don't live here. Playa del Carmen I presume? We have lived here a few months now and see what you mentioned...
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Yes, that is exactly where it is. I still love going down there despite my condo disaster. It's still one of the prettiest and fun towns to vacation ever!
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01-09-2012, 09:11 AM
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#31
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Aug 2006
Posts: 12,483
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Sugar futures...don't ask!
__________________
Consult with your own advisor or representative. My thoughts should not be construed as investment advice. Past performance is no guarantee of future results (love that one).......:)
This Thread is USELESS without pics.........:)
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01-09-2012, 09:41 AM
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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: May 2005
Posts: 17,238
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Fidelity Magellen....
It does not seem like a bad investment, but when I made it I was going to invest in Compaq... which was a new company in Houston... but opening up an IRA brokerage account back in the early 80s had a few more hoops than I wanted to do and Fidelity was easy....
A few years later the difference in value was in the 100s of thousands....
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01-09-2012, 10:26 AM
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#33
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Thinks s/he gets paid by the post
Join Date: Aug 2006
Posts: 1,558
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I was a MCI-WorldCom investor.
I also had a REIT that I owned decline 75%. That was actually more money lost than the MCI-WorldCom investment, because the REIT was a relatively large position.
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01-09-2012, 10:31 AM
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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: Jun 2002
Location: Texas: No Country for Old Men
Posts: 50,021
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Quote:
Originally Posted by Hamlet
I was a MCI-WorldCom investor.
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One of my son-in-laws was also a MCI-WorldCom investor...and an employee.
__________________
Numbers is hard
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01-09-2012, 11:19 AM
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#35
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Gone but not forgotten
Join Date: Jan 2007
Location: Sarasota,fl.
Posts: 11,447
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BKMP ! Which cured my penny stock ventures . Luckily only a $1900 lesson !
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01-09-2012, 11:44 AM
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#36
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Full time employment: Posting here.
Join Date: Sep 2007
Posts: 514
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The highlight reel: - Spent $40,000 on a VW Jetta that didn't even have leather seats. Learned why brand-new cars are a ripoff.
- "Invested" $11,000 in a dodgy charitable-donation/tax refund scheme. Money's gone, plus $3k in penalties to the tax man.
- "Invested" $80,000 in a land banking deal in 2006 that was supposed to double our money in 5 years. Still waiting. I'd be glad to break even, at this point.
The good news is, at age 36, I'm much more jaded financially now, and know better than to trust any financial "experts."
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01-09-2012, 12:13 PM
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#37
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Thinks s/he gets paid by the post
Join Date: Aug 2006
Posts: 1,558
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Thinking about it, I've probably lost more money on my house than all of my other investments combined.
Quote:
Originally Posted by Hamlet
I was a MCI-WorldCom investor.
I also had a REIT that I owned decline 75%. That was actually more money lost than the MCI-WorldCom investment, because the REIT was a relatively large position.
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01-09-2012, 12:41 PM
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#38
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Full time employment: Posting here.
Join Date: Aug 2006
Location: athens
Posts: 802
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Ugh. Who started this ugly thread? I've had way too many. I once had a friend at work who asked me to let him know whenever I invested money so he could go short with it. Here are a few: CNXT ( 10K to 110K to zero; so much for buy and hold); WaMu 5K; soybean futures (several thousand lost by my broker's man in Chicago while I was out at sea, this after he talked me into it as a sure thing, plus his commission of course). Lessons learned. Don't buy any individual stock thinking it will all work out "long-term". Don't take a tip from a friend who knows about investing. Never, ever deal in a margin account, especially in commodities, and double especially using a full service broker. (do they still make these guys ?)
__________________
Can't you see yourself in the nursing home saying, " Darn! Wish I'd spent more time at the office instead of wasting time with family and friends."
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01-09-2012, 02:42 PM
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#39
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Thinks s/he gets paid by the post
Join Date: Jun 2002
Posts: 1,637
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Quote:
Originally Posted by sunsnow
Enron bonds -- my broker/advisor said they were a sure bet. My $5000 went to $0. But it was small price to pay to learn not to trust brokers/advisors...
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I had some Enron stock. Looks like in this case stocks and bonds returned exactly the same.
__________________
friar1610
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01-09-2012, 02:44 PM
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#40
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Full time employment: Posting here.
Join Date: Jan 2004
Posts: 851
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Looks like I have a lot of company with WCOM stock...bought 500 shares at $15 and rode it all the way down to zero...
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