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[teh_pwn]

I had 60,000+ in my 401K. Havent checked it in weeks-- I shudder to think how much money I lost today.

I've been contributing the max amount for the 3 years I was able to start my 403B plan-- I'm seriously thinking about cutting back 50%... the stock market game is seriously depressing.

Ugh, again you still have the same number of shares. Are you 64 years old just about to cash out? No, then what are you worried about?

You're doing it wrong.

My predictions:

Oil down to $60

Gold will be a SPECTACULAR bubble. One of the bubbliest yet. It'll be glorious. We'll all be covered in it.


My question:

How will this affect housing? Will investors see it as a safe haven? There are millions of forclosed homes going for dirt right now.


Also, Im transfering cash to my trading account. I bought at the absolute bottom of 2008. Ill do this again!

You're doing it right.

What makes you think this is the bottom?

Well market timing isn't precise. With 401k it's contributions per paycheck, so if I see the markets go down another 15-20% I'll make the change to 2-3x the contribution rate and it'll average somewhere between the market's true value (which I think is about 15% higher than today's prices) and rock bottom.

This is like a sick combination of being a kid waiting for it to snow and cancel school, and looking at a wreck as you drive by.

 

[The Power Of Snap]

What makes you think this is the bottom?

It doesn't really matter what the bottom is. The price in quebec is still gonna be around 1.35$

What a ripoff.

 

[Piecake]

I had 60,000+ in my 401K. Havent checked it in weeks-- I shudder to think how much money I lost today.

I've been contributing the max amount for the 3 years I was able to start my 403B plan-- I'm seriously thinking about cutting back 50%... the stock market game is seriously depressing.

Be silly to cut back now. This is when you buy

It doesn't really matter what the bottom is. The price in quebec is still gonna be around 1.35$

What a ripoff.

Screw you

 

[Ether_Snake]

It doesn't really matter what the bottom is. The price in quebec is still gonna be around 1.35$

What a ripoff.

It was 1.27 yesterday and will continue to drop if oil keeps dropping (and it will).

 

[Chumly]

I had 60,000+ in my 401K. Havent checked it in weeks-- I shudder to think how much money I lost today.

I've been contributing the max amount for the 3 years I was able to start my 403B plan-- I'm seriously thinking about cutting back 50%... the stock market game is seriously depressing.

DO NOT DO THIS! You want to be funneling money in when its low. Unless you desperately need that money all in cash within a year you should not be selling it all.

 

[courage201]

I cant say I'm well versed in finance. I'm in my middish 20's and I work with much older people.. and they are all freaking out with their retirement accounts. Im liking to that angry mob mentality when these older foggies are telling everyone they talk to get out of the market and what they're saying is making sense.. so u start to think about it.

 

[teh_pwn]

I cant say I'm well versed in finance. I'm in my middish 20's and I work with much older people.. and they are all freaking out with their retirement accounts. Im liking to that angry mob mentality when these older foggies are telling everyone they talk to get out of the market and what they're saying is making sense.. so u start to think about it.

It doesn't make sense unless you're about to retire.

Try to spot the great depression in this 200 year plot. Also compare to "safe" bonds and gold.
http://www.uncoveringalpha.com/wp-content/uploads/2010/01/long-run-stocks.gif

Sure there are brief periods in which bonds beat stocks, but it's rare. Not ideal for a 30-40 year investment.

Or how about the saying "buy low, sell high". It was high, it's getting low. Why sell low?

 

[RumblingRosco]

I only wish I had more income to buy more stocks right now. Yes, I'm aware that this isn't bottom, but I don't care. I started buying at 11,000 in 2008 and didn't stop until I "ran out" of money to invest around 6,700. Of course, I still held on to all those stocks, which is probably why my entire portfolio is still up over 20% despite the massive hits it has taken recently.

Investing 101: Do. Not. Panic. That doesn't mean "never sell ever," it just means "Do. Not. Panic."

EDIT: teh_pwn, do you have a larger version of that image? That's really awesome.

 

[teh_pwn]

I only wish I had more income to buy more stocks right now. Yes, I'm aware that this isn't bottom, but I don't care. I started buying at 11,000 in 2008 and didn't stop until I "ran out" of money to invest around 6,700. Of course, I still held on to all those stocks, which is probably why my entire portfolio is still up over 20% despite the massive hits it has taken recently.

Investing 101: Do. Not. Panic. That doesn't mean "never sell ever," it just means "Do. Not. Panic."

EDIT: teh_pwn, do you have a larger version of that image? That's really awesome.

Try image searching "stocks for the long run" which is the book it's from. Keep in mind it's slightly cherry picked to make a point. If you bought stocks in the late 70s and sold in the late 80s I think bonds raped stocks, but it's a very rare event.

 

[jamesinclair]

What makes you think this is the bottom?

Its not, but money transfers take a few days in this backwards country of ours.


Friday will be a big showcase on where this is going. Its going to be a roller coaster week.

My main problem is that Im slightly superstitious. October, especially Fridays in october, are famous for their.....bloodiness. This is August. Will it take until October to reach the bottom?

 

[courage201]

yeah. thanks. I see that now.

The stock market is too much like a rubics cube to me. I have my portfolio set up 70% stocks (which if i remember had 2 types.. so i think i did 40/30)-- and 30% everything else (bonds etc). and this is was all with the recommendation of the financial advisor at work. I had no idea he was saying. Id always wanted to learn- but it just seems so intimidating.

 

[The Power Of Snap]

It was 1.27 yesterday and will continue to drop if oil keeps dropping (and it will).

It just raised of 0.8 cents tonight.

 

[teh_pwn]

yeah. thanks. I see that now.

The stock market is too much like a rubics cube to me. I have my portfolio set up 70% stocks (which if i remember had 2 types.. so i think i did 40/30)-- and 30% everything else (bonds etc). and this is was all with the recommendation of the financial advisor at work. I had no idea he was saying. Id always wanted to learn- but it just seems so intimidating.

That's way too much bonds for someone in their 20s, unless you can't shake the reaction you're having then it's suitable. Personally I'm 100% stocks because with 35 years to go the only difference I see is a probable 9-13% nominal return with stocks & rebalancing, and 6-8% with balanced mutual funds. Don't pay much attention to the day to day balance in $.

 

[RumblingRosco]

yeah. thanks. I see that now.

The stock market is too much like a rubics cube to me. I have my portfolio set up 70% stocks (which if i remember had 2 types.. so i think i did 40/30)-- and 30% everything else (bonds etc). and this is was all with the recommendation of the financial advisor at work. I had no idea he was saying. Id always wanted to learn- but it just seems so intimidating.

There are many very short and simple investment books out there that explain the basics. Generally speaking though, it's usually a good plan to invest more heavily in stocks the younger you are and as you age cut back on stocks and put more into safer investments, such as bonds. I'm 22 right now and put 80% of my investments in individual stocks I pick, 15% in mutual funds, and 5% in bonds.

 

[The Power Of Snap]

I bought suncor stocks but i think i will buy some more at a lower price if the barel continues to drop like a rock!

 

[Frankfurter]

So what do the experts say, is today the turn around or just some kind of a short stabilization?
European stocks today had huge losses, but they are crawling up more and more. German DAX for example had its lowest point at about -7%, while it's now at about -1.5% and still climbing.

 

[Zalasta]

Took less than 2 weeks to wipe out the gains from the past 9 months. Fun!

 

[Xisiqomelir]

So what do the experts say, is today the turn around or just some kind of a short stabilization?
European stocks today had huge losses, but they are crawling up more and more. German DAX for example had its lowest point at about -7%, while it's now at about -1.5% and still climbing.

Let's see what happens with the most insolvent bank in America.

 

[RumblingRosco]

So what do the experts say, is today the turn around or just some kind of a short stabilization?
European stocks today had huge losses, but they are crawling up more and more. German DAX for example had its lowest point at about -7%, while it's now at about -1.5% and still climbing.

I'm pulling this out of my ass, but I expect some more "big" bad news from the financial situation in Europe, followed by some negative comments from other nations (China or Brazil perhaps) towards the U.S./Europe which will further shake confidence, leading to a 1-2 punch of down-trending volatility in the next week or two still.

After that, I'd expect some gradual decline for a while, at least until the next wave of balance reports from major companies.

 

[ManDudeChild]

There are many very short and simple investment books out there that explain the basics. Generally speaking though, it's usually a good plan to invest more heavily in stocks the younger you are and as you age cut back on stocks and put more into safer investments, such as bonds. I'm 22 right now and put 80% of my investments in individual stocks I pick, 15% in mutual funds, and 5% in bonds.

Any recommendations?

 

[Large Professor]

Any recommendations?

Book recommendations?

The Intelligent Investor, by far the best book on investing I have ever read.

http://www.amazon.com/dp/0060155477/?tag=neogaf0e-20
http://www.amazon.com/dp/0060555661/?tag=neogaf0e-20

If you buy oil stocks you should look at the companies with the lowest cost per barrel produced.

 

[AlexMogil]

I'm so sick of people trumping out Nouriel Roubini every time there is a crisis. He shits out the same doom and gloom every time there is the potential for negativity. It's like they keep him in a container; "Break Glass in Case of Point Drop."

 

[spiderman123]

BAC ( Bank Of America ) and C ( Citigroup). Check it out.....should have bought BAC

 

[Large Professor]

The rally in BAC makes sense after the panic drop yesterday (I still don't like financials though).

 

[sajj316]

The rally in BAC makes sense after the panic drop yesterday (I still don't like financials though).

Financials had to bounce back .. bought XLF at the close yesterday

 

[RumblingRosco]

Any recommendations?

http://www.amazon.com/dp/0156029634/?tag=neogaf0e-20

Though, I admit, I read an edition from the early 90's, so I cannot say how it has changed since then... but, I found even that old book to truly be all I really needed (plus a little bit of internet snooping and reading the occasional Wall Street Journal article).

I love COOL. It simply follows the market, but does so to the extreme. Market goes up 2%? COOL goes up 16%. Market drops 5%? COOL drops 15%. It's very fun!

 

[otake]

I haven't sold anything but I'm down almost $200 at yesterdays close. I'm all mutual funds so I wont know how I'm doing till 400 today.

 

[nitewulf]

My predictions:

Oil down to $60

Gold will be a SPECTACULAR bubble. One of the bubbliest yet. It'll be glorious. We'll all be covered in it.


My question:

How will this affect housing? Will investors see it as a safe haven? There are millions of forclosed homes going for dirt right now.


Also, Im transfering cash to my trading account. I bought at the absolute bottom of 2008. Ill do this again!

why do you feel gold will burst?

 

[clav]

Oddly, the stocks are going up before the feds are announcing anything.

 

[meltingparappa]

So, at least short term, anyone who managed to buy something at close yesterday got in on one helluva deal.

I'm jealous that I was a day off schedule.

 

[GaimeGuy]

I'm 23 and about a week or two ago I increased my contribution percentage from 8% to 10%. (8% the maximum match amount. We get 50% matched contributions up to an 8% contribution. So effectively I went from 12% to 14%).

I don't expect to cawsh out for a long long time, and the more you get in early, the better, especially when the markets are at a low

 

[nitewulf]

http://www.amazon.com/dp/0156029634/?tag=neogaf0e-20

Though, I admit, I read an edition from the early 90's, so I cannot say how it has changed since then... but, I found even that old book to truly be all I really needed (plus a little bit of internet snooping and reading the occasional Wall Street Journal article).

I love COOL. It simply follows the market, but does so to the extreme. Market goes up 2%? COOL goes up 16%. Market drops 5%? COOL drops 15%. It's very fun!

that just means the sensitivity or beta is big.

 

[Relix]

why do you feel gold will burst?

Gold is just panic room. Eventually the room needs to fill up and spill.

I want oil under $60 too. I am not investing today as I am expecting another crash in the next few days, then I might just reinvest some of the cash I got from selling Friday morning.

 

[Ether_Snake]

The investopedia game is broken...

 

[dudeworld]

yeah wtf, I sold shares in SDS last night (set to sell at market open) and had it set to sell short some shares in SDS this morning. Neither of those transactions went through, and for some reason it's showing that SDS has gone up 3% and that I'm making money off it (since it hasn't sold yet because it's broken)

but SDS is actually down 5%... I don't get it

 

[toxicgonzo]

Oddly, the stocks are going up before the feds are announcing anything.

Expect to see a massive sell-off after the announcement. I'm calling it now!

Seriously, what could the Fed announce that could really inspire investors?

 

[dudeworld]

Expect to see a massive sell-off after the announcement. I'm calling it now!

Seriously, what could the Fed announce that could really inspire investors?

probably the usual, followed by god bless america

 

[Angry Grimace]

Expect to see a massive sell-off after the announcement. I'm calling it now!

Seriously, what could the Fed announce that could really inspire investors?

Revocation of Standard & Poor's corporate charter :lol

 

[Mister Wilhelm]

Just got off the phone with my mutual fund guy and he told me some good news: I'm only down 6% across the board.

I thought it was going to be way, way worse so I'm pretty happy right now.

 

[RumblingRosco]

Just got off the phone with my mutual fund guy and he told me some good news: I'm only down 6% across the board.

I thought it was going to be way, way worse so I'm pretty happy right now.

Sorry if this is off-topic, but when you say "mutual fund guy," are you paying him specifically to invest your money? If so, why? I've never totally understood the logic behind paying someone else to invest your money when most data shows that it rarely pays off.

If I'm in the wrong here then please forgive me!

 

[Barrett2]

I bought a bunch of shares of Gamestop years ago. Like a fool I didn't sell when they got up to almost 60. Never looked at my trading account in grad school, now the shares are just languishing in the $20-ish range. Any hope of it rebounding, or would I be better off dumping it?

I've been tempted to start getting more involved in my trading account again...

 

[dudeworld]

Sorry if this is off-topic, but when you say "mutual fund guy," are you paying him specifically to invest your money? If so, why? I've never totally understood the logic behind paying someone else to invest your money when most data shows that it rarely pays off.

If I'm in the wrong here then please forgive me!

this happens all the time on personal and corporate levels. My dad is a portfolio manager for a big company and he's paid to invest their money

 

[sajj316]

this happens all the time on personal and corporate levels. My dad is a portfolio manager for a big company and he's paid to invest their money

Really for those that don't have the time to watch stocks all day. Essentially what 401k is.

Even if you're a portfolio manager, you might have a trader that you pay to efficiently buy, sell, short, and cover stock.

 

[TheRagnCajun]

So...we're getting an update in 30 minutes?

 

[RevoDS]

Expect to see a massive sell-off after the announcement. I'm calling it now!

Seriously, what could the Fed announce that could really inspire investors?

I'm with you on that one. The market has already lost some momentum in the last hour, and a weak Fed announcement will feed on that downtrend. I suspect the day will end slightly down, between 0 and -1%.

 

[bender_84]

And there goes the Dow. Will be interesting what the Feds say though we all know it's not a permanent solution.....so in the end it won't really matter

 

[Luckyman]

Stocks bomba after FED non announcement

 

[clav]

 

[spiderman123]

They are going to keep IR low. That's all IMO.

 

[zero_suit]

They are going to keep IR low. That's all IMO.

The Fed is so predictable...