by truthseeker 14 Replies latest jw friends
This market crash is ravaging my portfolio - but I'm not selling.
Things can go up and down.
It hasn't quite got to the point where people are throwing their silver and gold into the streets, but who knows?
An elder I know who has a good job in IT has already lost several thousand dollars of his 401k. It's hard to know whether to sell.
Cash is king.
It's ravaged my folio. I'd exited some positions before things started to cool. For the rest, I'm now in for the very long haul. And I'm lurking, waiting for prices to drop low enough to be able to take some juicy positions. In the mean time, I'm keeping with the general principle of buying small volumes (very small) in apparently fundamentally sound stocks; of course, no one knows what's fundamentally sound again in this market with the last few giants hitting the ground...
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I got into all commodities over seven years ago. 30% are precious metals and gold saw the highest increase in history today. Oil stocks are still doing very well.
Mine is down over 20%. Selling now would be really stupid.
Yeah Gold kicked butt today, but it's still lower than it has been in previous months.
Cash is king.
You're forgetting inflation! Money stuffed in your mattress loses value. At least put cash in a money market account...that way you can hope to maybe keep pace with inflation or beat it a little.
Mine is down 15%. I'm not worried in the least, since it will be 30+ years before I'll be withdrawing. Truthfully, before this thread, I hadn't even checked it in a couple of months.
but it's still lower than it has been in previous months.
I bought all my gold when it was $280 and my silver at $2.70-$3.00. The metals have dropped but they have still outpaced "the street" by a wide margin. There is still more upward pressure on the metals then down. Just don't sit around waiting for your broker to recommend it.
The market.
I went to cash when the ding bats father stole the elections that was 8 years ago.
The market hasnt done anything since the ding bats been in office.
I would guess today and tomorrow would be bying opportunitys.
Back in the 90's these ding bats that have just gone out of business used to preach about buy and hold.
I dont think that works. The market hasnt made any money since Bush stole the election.
I bought $5,000 of Vangard SP500 its probably worth 4,500 today 10 years after I bought it.
How can you go 10 years without making any money and loosing money to boot.
Buy and hold might work if you buy for your baby children it might be worth something when they die.
It's not the market its the idiot Bush and the idiot republicans.
Now the idiot republicans want to elect a man who was the bottom of his class, McBush to lead Amerika into oblivion.
McCanin was 894 out of 899 in the Naval Academy. The guy is a rock. NO Bush is a Rock McBush is a box of rocks.
He killed 134 US sailors because he wasnt smart enough to fly a jet. He got to fly because his daddy was an admiral.
He was such a bad pilot he spent most of the war in a pow camp.
You republicans if you dont start thinking your going to loose everything.
If you want to keep living like republicans you better start voting like democrats.
xx
I just checked again...my 401k is down 29% from what it was about a year ago. Spiffy. Maybe I should sell it all and buy AIG. Then sell about 10 minutes later and double my money. Or lose it all. ;)
What portfolio?
I don't know what it was like where you live, but here in Western Pa and in particular....the cong. I was in.....they made it known that the end was coming soon and if you did much saving......you weren't putting your faith in Jehovah's kingdom. Why save? You will just lose it all when money is thrown into the street.
So.......no matter how much overtime I worked.....my late wife just spent more. The bills weren't paid off with all the overtime money, more bills were made.
My fault? Yes, I guess you could say so, but that was the mentality here.
Any intelligent person making the kind of money I did would have a nice nest egg in the six figure area...........and the first number would not be 1. Not me.....the loyal J Dub. Today, I just make ends meet and have a house in an encroaching ghetto. If I tried to sell it, I'd be lucky to get $12,000 to $15,000 for it. That's right! Houses in the lower income neighborhoods of the greater Pittsburgh area are very cheap.
God.....I hate that cult.
HappyDad
