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[Midnight Rider]

With the fiduciary responsibilities I took on recently with my Mom's affairs and my own investments, I'm into numbers high enough that the recent losses in the market have been painful, very painful. No disrespect intended here, but I'm looking for words of wisdom from folks who are actually losing money as I am and not discussion from somebody with no stake in the game.

B B 

Well, my ex was a pretty wise investor, dealing with Blue Cross pension funding, and she always said stick it out for the long term, IF you have invested in good comapanies.  It'll bounce back, given enough time.  10-12% return over the long haul...over the short haul, you gotta' be lucky.  If stock brokers know so damn much, they wouldn't be stock brokers.

[vagabond6542]

With the fiduciary responsibilities I took on recently with my Mom's affairs and my own investments, I'm into numbers high enough that the recent losses in the market have been painful, very painful. No disrespect intended here, but I'm looking for words of wisdom from folks who are actually losing money as I am and not discussion from somebody with no stake in the game.

B B 

Spiderman,

I can identify with your situation. I am on a trust that started in 1975 and was passed on to me after my father's death. I have had in depth telcoms with the Present Administrator of the Trust about the present market.
Bank of America Private Client section is the Trust Officers.  I have seen as much as 100K lost in the last 30 to 90 days. You have to get use to it. It will come back later, when the market "heals" itself. If the Institution that is investing is conservative in its moves of investment, you will come out fairly OK. But you will get burned a little. My stake in this game is It is my only money source.

Vagabond

[Hugh Janis]

I thought this was the chocolate pudding thread!

Hoist!

Yeah, what's with all the thread jacking to $$$$ talk? 

[iski]

I thought this was the chocolate pudding thread!

Hoist!

It might as well be the chocolate pudding thread.  Nobody has a clue as to what is about to happen to the stock market, and that's the truth.


Back in 1989 (1987, I forget?) when we had a market crash of 500 or so points, I cashed out & put my money elsewhere.  Dumbest thing I could have done at the time & by the time I got back into the market, it had already risen significantly.  I had put the money in bonds, so did not lose anything, but the rate of return sucked.  Lost substantial $$ in that market crash as a result of bailing out.

Paid off our credit cards after that & have kept monthly revolving credit (car payments, etc.) to a minimum since then.  Almost to the point where we will not need to borrow money for any vehicle purchase in the foreseeable future.  Drove older cars that were paid for to get to that spot & I am sick of paying interest.  Would rather receive interest on my investments.  

We paid the house off a few years ago.  Have looked at some real estate investments since, but have not bought anything.  Turned out to be smart - each & every one of them is worth less than we would have paid for it several years ago.  Would have lost major bucks, so waiting out a ridiculous real estate market spike proved out to be the right thing to do.  I watched a boom/bust real estate cycle in Texas back in the 70's & 80's & the recent one here in Florida smelled exactly like that.  So we are still watching some real estate & when it looks closer to the bottom (sometime in 2009 maybe) we will buy.  

On the stock market - lost some major dinero this week & over the past few weeks.  Have not done anything but watch it.  My bet is the market will stabilize.  Sure as hell hope so.  Not happy about it but from past experience cashing out just shorts me on any market uptick & I cannot time it very well.  Wish I could.  Folks that say they can - lucky them.  Plan to divert some bucks into real estate after the real estate market finishes tanking to hedge my bets as to investments.  

Anyway, decided I still like chocolate pudding & I know a lot more about that than the stock market.  Did not see/hear anybody predicting this type downturn, but figure a few talky heads will come out & claim they did.  Some were calling for this to happen back in 2000, so their timing kinda stinks, IMHO.  

Jello is good, too.  

[iski]

Yeah, what's with all the thread jacking to $$$$ talk? 

I am investing in pudding.   shhhhhhhhhhhhhh........

 

[DCFIREMANN]

B B...I've never in my lifetime been fortunate enough to have enough money to invest in the stock market, other than through TIAA-CREF, or because my ex was a trust officer for a very large bank, and I gained a bit of knowledge through osmosis.  I have a meager state pension and am still working.

Most of my comments are from a philisophical point of view, just to add a different perspective, as I've been at both ends of the spectrum.

Basically, I'm just an old, Happy Hippie, if that lends any qualitative assistance.

I love it Terry!!!

Up here they would just call you a FREEZE DRIED HIPPIE

Be Safe

THE DAWG

[DCFIREMANN]

Well I have just sat back and watched the market. Till last night. Then I got on line a checked to see where I am in all of this BS that is going on. I have lost almost 40%, but plan to leave everything where it is. I will be 55 in a couple of weeks so if I wanted to cash out now it would cost me out the A$$. In a couple of weeks though it may be a different story!!!!

BB I feel your pain. The only Good thing I have going for me is my GREAT District of Columbia Retirement Plan. It too is backed by the the FEDS!!!!!!

life goes on AND IT IS TIME TO RIDE!!!!

BTW has anyone looked at the weather for the MV weekend. it is getting closer and they are calling for rain!!!!!!

Be Safe

THE DAWG

[Hoist!]

Well I have just sat back and watched the market. Till last night. Then I got on line a checked to see where I am in all of this BS that is going on. I have lost almost 40%, but plan to leave everything where it is. I will be 55 in a couple of weeks so if I wanted to cash out now it would cost me out the A$$. In a couple of weeks though it may be a different story!!!!

BB I feel your pain. The only Good thing I have going for me is my GREAT District of Columbia Retirement Plan. It too is backed by the the FEDS!!!!!!

life goes on AND IT IS TIME TO RIDE!!!!

BTW has anyone looked at the weather for the MV weekend. it is getting closer and they are calling for rain!!!!!!

Be Safe

THE DAWG

That's about it Mike! Long term $$$! Let it ride! And LET'S RIDE!!!

And it was 38 when I got up. I'm in MA and leaving for Augusta shortly! Waiting for a bit of warmth right now! Forgot there's only 3 seasons up here, July, August, and WINTER!!! It's a damn frozen tundra!!! Prolly at freezing in ME. Leaving bet 8-9 now! FTC!!!

Hoist!

[miker]

Have a safe trip Howie, I'll be logging on to the web tune....

[Hoist!]

Have a safe trip Howie, I'll be logging on to the web tune....

Thanks Mike! Prolly won't get there til close to noon now.

Hoist!

[miker]

Even at Howie speed???

[iski]

Can we talk about gum now?  I like Juicy Fruit & Double Bubble.

[miker]

Feh! Gum! I scoff at your gum!  Why gum when there are puffins to obsess about...

[Sean M Cary]

Can we talk about gum now?  I like Juicy Fruit & Double Bubble.

Bubble Yum with Spider eggs and Space Rocks!!

Arrrrrggggghhhhhh

[FLYNDYNA]

Puffins...attracted to bright lights will often flock in closely and with such velocity that many will crash and loose their lives...what was that about the pudding again?