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Shut Up, Ben!
Old 10-07-2008, 11:50 AM   #1
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Shut Up, Ben!

Every time you open your piehole, I become another year farther from retirement...
"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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Old 10-07-2008, 01:07 PM   #2
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Investors, sitting around waiting for the gov't to tell them how bad they have it.

Let's get Greenspan back on a podium somewhere to act like he knows what we need.

"There's those thinkin' more or less, less is more, but if less is more, how you keepin' score?
It means for every point you make, your level drops. Kinda like you're startin' from the top..." "Society" - Eddie Vedder
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Old 10-07-2008, 01:23 PM   #3
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Unfortunately, the markets have been like this for several months. Someone sneezes at a brokerage firm back in the spring or summer and ALL markets (stocks, bonds) would start tanking.

I am grateful to this day to have minimized our losses for the year. Having bailed on most of our stock investments back in the spring and the rest a few weeks ago has probably saved us somewhere between $100K and $125K in additional losses on all of our investments (401(k) and taxable).

Only problem now is deciding when to hop back on the rollercoaster. Maybe my wife and I are better suited to the merry-go-round.
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Old 10-07-2008, 01:32 PM   #4
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Originally Posted by statsman View Post
Only problem now is deciding when to hop back on the rollercoaster.
I shifted 10% of my assets from money market to mid and small cap stock index today at noon, good for todays closing price. Looks like we might be down 4% for the day, so maybe it was a good choice. I have about 20% more to shift, maybe next week.
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Old 10-07-2008, 05:51 PM   #5
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The good part about Greenspan was that it took experts about 48 hours to decode what he said into something comprehensible.

The bad part about Greenspan is that he laid the foundation for a substantial chunk of this mess.
Be fearful when others are greedy, and greedy when others are fearful. Just another form of "buy low, sell high" for those who have trouble with things. This rule is not universal. Do not buy a 1973 Pinto because everyone else is afraid of it.
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