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
Bryan, In last 10 years, I have lost almost everything 3 times. I've been able to recover 2 times and now this my third losing round and hoping that I can survive.
When losing money, it's painful. But you got to make sure that you're not panicking or reacting on pain. I don't believe for a second that what went down has to go up or what went up has to come down. It doesn't apply to stock market. Look at Qualcom, AT&T and a bunch more. If you can move around smartly, you can soften the ups and downs a bit. We have been bleeding so much that it's hard to realize the light at the end of tunnel is day light or just a freight train.
Those Fu&^0 hedge fund managers had the inside information on the depth and width of the Banks losses and they shorted them long before people knew and the CEOs were planing for their out since they one.
You can't get a blanket advise on your holdings. You have to examine them one at a time very carefully and decide what to do.
Just MHO
Author
Topic: Financial Meltdown?! (Read 95660 times)