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Would like to share financial pain - anybody else?


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(edited)

Edited: Good Idea!

 

I'm lazy and save my logon, and GC is my homepage, lawl.

 

 

What about an IRA?

 

I didnt look into it much, but a standard one or a roth one.

Have to talk to my bank.

Edited by ZesteR
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I love the Article in Time on the Guy who bought oil options in the late 80's with everyone laughing at him and sold out last week with a $2.5B profit...Who is laughing now :)

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Still thinking about shorting oil futures? :)

 

yea, very bad timing with that one... The chart was saying a downtrend is beginning and BAM out of nowhere a huge jump.. I'm still short on it.

Edited by NOFX
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I love the Article in Time on the Guy who bought oil options in the late 80's with everyone laughing at him and sold out last week with a $2.5B profit...Who is laughing now :)

Kinda makes me wish I had put my weekly allowance into oil options back then. I guess 7 year olds need to be smarter with their money ;)

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Save lots to retire guys, we're gonna need it.

 

With no social security, a huge national debt, enormous health care costs...

 

Ron Paul has talked about this for a while. The financial pains we're about to go through. The Federal Reserve created this problem. People say the Fed is great because they bailed out Bear Sterns, which kept them from going under, which would have lead to a crash of the entire financial system. BUT, they created this problem in the first place! They built the housing bubble, diluted the value of the dollar(which is a major reason why Oil has been rising in price), and are continuing to try to patch a broken system.

 

Has Lehman Brothers hit rock bottom yet? Lehman Brothers is twice as big as Bear Sterns and was able to weather the credit-storm longer, because they have more cash. Can the Fed bail out Lehman Brothers too? What about in a few more months, when the only 3 banks bigger than these two could be in trouble.

 

 

These financial pains run deep. Scary stuff.

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  • 2 months later...
Still thinking about shorting oil futures? :)

 

yea, very bad timing with that one... The chart was saying a downtrend is beginning and BAM out of nowhere a huge jump.. I'm still short on it.

 

was I right or what? I would have capitalized on this HUGE, but I I was just a tad bit early on my buy time..

 

Right now I'm sitting at a -17% loss in my 401k. My best performer... -14%. My worst performer is a -26%..

 

As Im looking at my mutual fund tickers.. they are all sitting about -3.5% on today.

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Still thinking about shorting oil futures? :)

 

yea, very bad timing with that one... The chart was saying a downtrend is beginning and BAM out of nowhere a huge jump.. I'm still short on it.

 

was I right or what? I would have capitalized on this HUGE, but I I was just a tad bit early on my buy time..

 

Right now I'm sitting at a -17% loss in my 401k. My best performer... -14%. My worst performer is a -26%..

 

As Im looking at my mutual fund tickers.. they are all sitting about -3.5% on today.

 

 

True oil came back to earth in a hurry, just hope it stays down before the next rush, or did you pay the short yet?

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  • 3 weeks later...

My 401k has a -11% rate of return for the past year. Since I started it over 3 years ago, I calculated that my overall rate of return is about -5.65%. So that means I've been paying over 5% to have someone else hold my money.

 

Since it doesn't look like the market is going to get worse before it gets better, I switched to value/stable funds about a month ago. It's the only way to have a positive rate of return these days.

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My 401k has a -11% rate of return for the past year. Since I started it over 3 years ago, I calculated that my overall rate of return is about -5.65%. So that means I've been paying over 5% to have someone else hold my money.

 

Since it doesn't look like the market is going to get worse before it gets better, I switched to value/stable funds about a month ago. It's the only way to have a positive rate of return these days.

 

Yeah I did the same in february. Not going back into the market till things settle down.

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Lost a ton of my personal cash in the market. Probably about -50%. I have my 401k spread out nicely. I was down a total of 30% the other day when it fell. What the hell, I'm not going to move it into the stable account now. That would be a classic buy high sell low move. I should have moved it over when I was about -10% down a few months ago. I'm just gonna ride this baby out. If I can get anywhere near a -10% loss, I might consider moving to stable account, but I don't plan on pulling my money out of it for another 25 years or so, so whatever..

 

If I knew back when I started trading, what I know now... I would be buying all sorts of stocks now for the long run. But of course now, I don't have much money to be doing this. I thin yYou could make a killing right now.. that is if you didn't already lose a bunch...

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What I'm doing (and I think farmer has the same idea) is holding the current wealth in value funds. As soon as the prices start going up for more than a few days, we're going to buy back into those funds and hold them for the long haul.

 

So this is kinda like a "buy high, sell medium, buy low" approach. :)

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If I can get anywhere near a -10% loss, I might consider moving to stable account, but I don't plan on pulling my money out of it for another 25 years or so, so whatever..
if that's true (25 years), don't move it, but if you can afford to, buy into value funds.
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Someone explain "value funds" please.

 

My new coworker happened to be transferring all his company stock from his previous job when the market went crappy last week. He had it all in the bank at that time by pure chance. When he put it back into the market he made over $12k on that first day.

 

Unfair.

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