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06-26-2008, 03:45 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: Apr 2003
Location: Hooverville
Posts: 22,983
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 Quote:
Originally Posted by brewer12345
I suspect we are close to a bottom because Dad called out of the blue today and wanted to know if we should sell everything because the market was crashing.
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I agree. There is a lot of garbage out there that probably should never have gone public.
But I have been investing a long time, and to me right now a world wide fire sale on blue chips is being held-US, Europe, and Japan. I expect to come out of this with a higher income than I need, mostly made up of strong equities with high profit margins and low to moderate maintenance capital needs and with a long history of frequent dividend increases.
For a long time I have wondered if this would be possible, and it appears that it is.
If you hold solid companies, now is likely not the time to panic
Ha
__________________
"As a general rule, the more dangerous or inappropriate a conversation, the more interesting it is."-Scott Adams
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06-26-2008, 03:46 PM
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#22
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Thinks s/he gets paid by the post
Join Date: Oct 2004
Location: LaLa Land
Posts: 4,499
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Quote:
Originally Posted by Nords
I don't get it. No one was complaining last year when the market was 20% overvalued. Shouldn't we all be doing the happy dance now that the market is 20% off its peak and heading for undervalued?!?
Just made my spouse's final IRA contribution. Our asset allocations are holding steady, and Berkshire Hathaway is having a blue-light special sale this month.
I'll be surfing...
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If I had a Cola pension I'd be doing the happy dance. At this point I'm a wall flower.
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06-26-2008, 03:47 PM
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#23
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Full time employment: Posting here.
Join Date: Aug 2007
Posts: 961
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Instead of playing the market - Texas real estate is the answer. Make sure you get the mineral rights.
About 25 years ago I bought 500 arces of prime Texas pasture land. Then about a year or so ago lady luck smiled on this poor devil.
God Bless Us All 
__________________
War is a poor chisel to carve out tomorrow. - Martin Luther King Jr.
Seek peace, and pursue it. - Psalms 34:14
Be kind to unkind people - they need it the most - by Ashleigh Brilliant.
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06-26-2008, 03:49 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 Wags
Instead of playing the market - Texas real estate is the answer. Make sure you get the mineral rights.
About 25 years ago I bought 500 arces of prime Texas pasture land. Then about a year or so ago lady luck smiled on this poor devil.
God Bless Us All |
Congrats Wags. You on the Barnett shale?
Ha
__________________
"As a general rule, the more dangerous or inappropriate a conversation, the more interesting it is."-Scott Adams
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06-26-2008, 03:54 PM
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#25
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Full time employment: Posting here.
Join Date: Aug 2007
Posts: 961
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Quote:
Originally Posted by haha
Congrats Wags. You on the Barnett shale?
Ha
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Thank you.
I have been thinking about changing my middle name to Buddy Ebsen or J.D. Clampett.
God Bless Us All
__________________
War is a poor chisel to carve out tomorrow. - Martin Luther King Jr.
Seek peace, and pursue it. - Psalms 34:14
Be kind to unkind people - they need it the most - by Ashleigh Brilliant.
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06-26-2008, 04:28 PM
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#26
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Recycles dryer sheets
Join Date: Sep 2007
Posts: 488
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Quote:
Originally Posted by Nords
I don't get it. No one was complaining last year when the market was 20% overvalued. Shouldn't we all be doing the happy dance now that the market is 20% off its peak and heading for undervalued?!?
Just made my spouse's final IRA contribution. Our asset allocations are holding steady, and Berkshire Hathaway is having a blue-light special sale this month.
I'll be surfing...
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It could still be overvalued if the actual value of the corporations are dropping faster than their stocks.
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06-26-2008, 04:28 PM
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#27
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gone traveling
Join Date: Aug 2006
Posts: 994
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Quote:
Originally Posted by retire@40
Invest for the long-term in the stock market and you will be rewarded.
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Told ya
Meantime, back at the ranch... I'm happily peacefully cashed out.
~
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06-26-2008, 04:29 PM
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#28
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2002
Location: No Country for Old Men
Posts: 47,480
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And not gloating about it, nope, not at all... 
__________________
Numbers is hard
Retired in 2005 at age 58, no pension
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06-26-2008, 04:47 PM
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#29
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Thinks s/he gets paid by the post
Join Date: Apr 2007
Posts: 2,353
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Quote:
Originally Posted by statsman
There is enough bad news to keep this bear market going for quite some time.
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Who knows? Personally, I suspect you're right.
Quote:
Originally Posted by statsman
And much of the rest of the world doesn't seem to have a problem sticking it to the US this time around.
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I'm not quite sure what you mean. Money effectively knows no borders, and goes wherever it can find the best risk/reward combination. Given such obvious problems as the unsustainable current account deficit and the ever-increasing federal debt (to name but two examples), many investors (including Americans) are understandably loath to put money into the US economy or the greenback; but that has nothing to do with any desire to "stick it to the US".
__________________
"To know what you prefer, instead of humbly saying Amen to what the world tells you you ought to prefer, is to have kept your soul alive". Robert Louis Stevenson, An Inland Voyage (1878)
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06-26-2008, 04:48 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: Dec 2003
Location: Losing my whump
Posts: 22,697
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Yep, I still cant figure out real estate and equities. Everything goes on sale and people run screaming for the exits. Overprice everything and everyone stands in line with their checkbook in hand, screaming to buy.
If you dont have a plan that gets you through a 3 year trough, you have a bad plan.
If you dont have a plan with a spending reduction program and some other ways to defer volatility risk, you have a bad plan.
__________________
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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06-26-2008, 04:51 PM
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#31
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Thinks s/he gets paid by the post
Join Date: Apr 2007
Posts: 2,353
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Quote:
Originally Posted by cute fuzzy bunny
Yep, I still cant figure out real estate and equities. Everything goes on sale and people run screaming for the exits. Overprice everything and everyone stands in line with their checkbook in hand, screaming to buy.
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"Greed" and "fear", respectively. Two powerful emotions, that's for sure.
__________________
"To know what you prefer, instead of humbly saying Amen to what the world tells you you ought to prefer, is to have kept your soul alive". Robert Louis Stevenson, An Inland Voyage (1878)
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06-26-2008, 04:53 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: Feb 2005
Location: Central MS/Orange Beach, AL
Posts: 8,653
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Quote:
Originally Posted by Helena
Told ya
Meantime, back at the ranch... I'm happily peacefully cashed out.
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Wish I could gloat.
__________________
Retired 3/31/2007@52
Investing style: Full time wuss.
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06-26-2008, 04:57 PM
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#33
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Moderator Emeritus
Join Date: Jun 2007
Location: At The Cafe
Posts: 6,873
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True story: I was walking near the Charles Schwab sign: time, temp., DOW, Nasdaq, Schwab 1000, etc. Three men dressed as young executives were just ahead of me. One of them said, "what does down mean?"
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06-26-2008, 05:00 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: Jan 2007
Location: Sarasota,fl.
Posts: 11,446
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Quote:
Originally Posted by Helena
Meantime, back at the ranch... I'm happily peacefully cashed out.
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This is something I've always wondered . How do you cash out if most of your investments are in taxable accounts ? How do you handle the tremendous capital gains ? And where do you put the money ? Sorry if this question is elementary .
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06-26-2008, 05:02 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: Dec 2003
Location: Losing my whump
Posts: 22,697
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Not speaking for Helena, but the way it usually works is your cash gets eaten alive by inflation, the market rebounds and you miss getting back all of the money you lost, and then you get clobbered with a huge capital gains tax next april.
__________________
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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06-26-2008, 05:07 PM
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#36
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Jul 2005
Posts: 5,466
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the time to worry and try to figure out if we are headed into a prolonged recession was last october...you missed it folks .... now the only question should be should we hold a little more money on the side if we arent in or put it all in now
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06-26-2008, 05:07 PM
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#37
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Feb 2005
Location: Central MS/Orange Beach, AL
Posts: 8,653
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Quote:
Originally Posted by cute fuzzy bunny
Not speaking for Helena, but the way it usually works is your cash gets eaten alive by inflation, the market rebounds and you miss getting back all of the money you lost, and then you get clobbered with a huge capital gains tax next april.
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Well in my case, as much as I have bitched and moaned, I have not sold. But I'm getting clobbered by inflation and a bear market. Not a good recipe for success, to borrow another poster's line. But I hope you are right about the market rebounding at some point. Hard to see anytime soon.
__________________
Retired 3/31/2007@52
Investing style: Full time wuss.
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06-26-2008, 05:08 PM
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#38
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Recycles dryer sheets
Join Date: Jul 2007
Posts: 192
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Quote:
Originally Posted by Moemg
This is something I've always wondered . How do you cash out if most of your investments are in taxable accounts ? How do you handle the tremendous capital gains ? And where do you put the money ? Sorry if this question is elementary .
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I sold a significant chunk (20%) of my port last August and was able to offset the gains by selling what was left of some nearly worthless tech stocks. I've been buying all the way down here recently, including today. I sure could be wrong, but this market looks like a great opportunity...
__________________
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06-26-2008, 05:09 PM
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#39
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Moderator Emeritus
Join Date: Jun 2007
Location: At The Cafe
Posts: 6,873
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Quote:
Originally Posted by mathjak107
the time to worry and try to figure out if we are headed into a prolonged recession was last october...you missed it folks .... now the only question should be should we hold a little more money on the side if we arent in or put it all in now
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20-20?
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06-26-2008, 05:09 PM
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#40
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Moderator
Join Date: Oct 2005
Location: North Oregon Coast
Posts: 16,475
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Quote:
Originally Posted by Milton
"Greed" and "fear", respectively. Two powerful emotions, that's for sure.
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Yep. And the ones that are the most likely to kill portfolios. You may make a lucky call based on greed or fear once in a while. But if you live that way, ultimately you're going to be doing a lot of buying high and selling low.
__________________
"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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