Market Pummelling

Yep, just venting, I'm not deviating from the game plan. I know twenty years from now when I'm 50 this will be long forgotten.
 
As I told my dad (again) this morning: ignore the little day to day swings. We should care if someone is offering us way more for our assets than they are worth or if someone is offering to sell us a nice asset for way less than it is worth. Otherwise, go have fun and ignore the day to day stuff.

BTW, I am waiting for some spin-offs (AmEx and Pitney Bowes) and watching DLX. Other than that, I am sitting tight.
 
There are usually 2-3 bear traps on the way down.
Keep your powder dry for now.

Cheers,

Charlile
 
Ben, I noticed that REITs and foriegn equity did not
drop as much as US equity yeaterday.
Diversification is still alive and well.   :D

Cheers,

Charlie  
 
Ben
The 50-60 year olds look at their next 25 years and have determined that a portion of their portfolio needs to be in a potentially growing asset.
The 80 year old just likes to play.
Uncledrz
 
Well TH, you are FIRE and I'm not, so you must be doing something right, I'll give you that much! But why you gotta bring up ELN (still holding. by the way)? :p
Click to expand...

Right place at the right time, turned chicken in 01/2000 when everyone else was brave. Thats about it...

A couple of days after you mentioned your ELN droppage I turned on Bloomberg at about 5am after a morning baby feeding and the first thing on the screen was ELN up something like 17%. I thought 'I hope Laurence bought some of those shares while they were the blue light special'. I actually thought about grabbing some but my individual stock days are over.
 
Hello! Not only are my "individual stock days" over
so are my "stock days" generally.

I was thinking the other day that I am pretty content
with where I wound up investment-wise. This is
especially interesting as I can't say I really obsessed
over it like I do over a lot of stuff. I think the idea
that it's all just a big crapshoot anyway helped to remove some angst. Whatever.............I watch the news but the ups and downs of stock prices are of little interest to me.

JG
 
Holy Crap. Wait till you hear THIS one.

My kid brother has a very, very expensive big time, big deal investment manager who in addition to commissions charges 1%/year on the portfolio, payable 1/4ly upfront . Well bro has been depositing funds routinely and got pissed that they were sitting apparantly in a non-interest bearing account. So he calls the guy and hollers at him to get the cash invested.

Next day bro is big into GMAC bonds. Says the bigshot says they're 9.something% and only 18 months duration and heck GM would have to default on their regular stock and preferred stock dividends before these bonds would be in trouble...don't worry.

Now I dont think these bonds are necessarily a bad investment. Depends on why you want them. I'd just like to see this broker's balls in a biscuit.

BUM
 
A few weeks ago I took my equity allocation from 50%+ down to about 35%... and yes, I'm sleeping pretty well at the moment :) Large cap value tilt has also helped.

IMO, there are times when being a DMT makes sense. If you buy the concept that we may be in for an extended period of a flat-ish market, then infrequently trading significant dips may offer the best chance for gains.

Sit-on-your hands investing worked well during the Bull market, but no style is best for all environments...fighting yesterdays war etc.
 
Holy Crap. Wait till you hear THIS one.

My kid brother has a very, very expensive big time, big deal investment manager who in addition to commissions charges 1%/year on the portfolio, payable 1/4ly upfront . Well bro has been depositing funds routinely and got pissed that they were sitting apparantly in a non-interest bearing account. So he calls the guy and hollers at him to get the cash invested.

Next day bro is big into GMAC bonds. Says the bigshot says they're 9.something% and only 18 months duration and heck GM would have to default on their regular stock and preferred stock dividends before these bonds would be in trouble...don't worry.

Now I dont think these bonds are necessarily a bad investment. Depends on why you want them.  I'd just like to see this broker's balls in a biscuit.

BUM
Click to expand...

Actually, I think GMAC bonds are a buy right now, especially the 2 to 3 year maturity bucket. No way they will default in that time period, and you are getting paid wildly high yields to take what appears to be a small amount of risk.

Now the broker, OTOH, probably should be taken out to the woodshed.
 
Thanks for thinking of me TH, I didn't have much more to buy with, but now I think I can break even if I sell all shares at 7 :). Some one else mentioned just tucking it away and looking at it years from now. I don't need the money so I'll stand pat. You can't learn poker by watching! :p

Maybe I'll buy some GMAC bonds with that 20k...
 
TH....
Right place at the right time, turned chicken in 01/2000 when everyone else was brave. Thats about it...
Click to expand...

I was in much the same boat. Got out in mid 2000. Just something in the air. Reminds me of what Bernard Baruch said:

When he was asked how he had been so consistantly successful in the stock market, he replied, "I always sold too soon."
 
"I always sold too soon".............I like that.

Re. the GMAC bonds.....most of you know I am loaded
already. Honestly though, if I had the cash available
to tie up, I still think it's a no-brainer. I would buy more in a heartbeat. Those yields are too good to pass up
IMHO. However, you don't need an expensive broker
to tell you that. I just told you for free :)

JG
 
RE:GMAC id wait for some more GM trouble,pretty much a dealt hand.GMAC should get drug down even more by simple affiliation,regardless of liabilities of parent company.But personally i wouldnt load the boat,a nice dollup should suffice.But thats just me
 
Well, despite a lot of strong earnings reports today, the market is just treading water. Anybody heard of this guy? His article is pretty bearish:

http://biz.yahoo.com/tm/050415/12527.html

So far I'm feeling pretty smart with my large cash position this year, but if I ever get a big head just chant the magic phrase, "ELN! ELN! ELN!" ;)
 
Please remember that there are certain people of the investing community that would stay bullish if the DOW went to 1,000. They will be of no use in a bad market and will actually be your worst enemy. We will continue to let the market's price and volume action be our guide. It has done a good job for us so far.
Click to expand...

I've never heard of this guy, but if he would not be Bullish if the Dow dropped to 1,000, he would probably miss the biggest stock sale in History. I would certainly call Dow 1,000 a bottom. :confused:
 
They say there's 3 kinds of writers:
1. Those that have knowledge to communicate
2. Those that have someone else's knowlege to communicate, and
3. Those that are writing for attention

This Gary Kaltbaum is surely #3. I don't know his background, I'm not sure he has one. He's one of those "screaming whatever to be heard".

I'm not saying he's wrong, however. I just would not listen to him at all.
 
Yeah, he wasn't passing the smell test, just checking with y'all if you thought there was some wheat with that chaff.
 
Down another 115 today. We should start a pool for

1. When the red will end (as in a date)?
2. Where will it end (9500, etc)?

The winner will receive some flooz once I get my time machine working again...
 
Below DOW 6000, I might consider upping my stock allocation. Doubt if we'll get that lucky though.
 
If it hits 6000, I'd probably be visiting one of those sleazy payday lenders to buy more.

Total sleeper alert: I have been a shareholder in Shore Community Bank (SHRC) for years. They are doing a secondary offering available to current shareholders first at $21 (vs. market of $29), but will offer it to everyone if they can't sell all they want to current shareholders. Might be a nice opportunity if you are interested in a well-run (but tiny bank) in an attractive area.
 
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