wow, DJIA down 300 points and its only 1pm *update* all losses erased! wow

[JohnCU]

i was complaining that i've lost $40 over the past week in my newly created 401k, then the guy i'm working with says he's lost $100k in 2 weeks, i don't feel so bad.

 

[Chaotic42]

Originally posted by: JohnCU
i was complaining that i've lost $40 over the past week in my newly created 401k, then the guy i'm working with says he's lost $100k in 2 weeks, i don't feel so bad.

Well, it's probably a failrly low percentage of his net wealth if he's investing it like that, so he's likely not hurting. I could be wrong though. I just checked, I'm not doing well myself. I was up 17% this year, now I'm up 4.2%.

 

[KK]

I'm down around 6-7k. damn housing market, gotta blame it on something.

 

[JohnCU]

Originally posted by: Chaotic42

Originally posted by: JohnCU
i was complaining that i've lost $40 over the past week in my newly created 401k, then the guy i'm working with says he's lost $100k in 2 weeks, i don't feel so bad.

Well, it's probably a failrly low percentage of his net wealth if he's investing it like that, so he's likely not hurting. I could be wrong though. I just checked, I'm not doing well myself. I was up 17% this year, now I'm up 4.2%.

yeah, i started my 401k in may and i'm at -5.4% so far haha.

 

[FoBoT]

YASMT

i guess we need a "the stock market is down" forum

 

[Slew Foot]

You should have starting buying puts earlier this year.

$$$$$$$$$$$

 

[PingSpike]

Originally posted by: JohnCU
i was complaining that i've lost $40 over the past week in my newly created 401k, then the guy i'm working with says he's lost $100k in 2 weeks, i don't feel so bad.

I don't feel all that bad for some one that had 100k to lose, really.

 

[Bartolo]

well the TSX is down over 550 points so far today

 

[maddogchen]

i lost all my gains this year...well cept for my fixed income in my retirements. But then I'm young so its better to start this at the beginning and hope you retire near the top of the cycles.

 

[Miramonti]

Its fair to say there are some buying opportunities...

 

[HN]

300 points?
This is MADNESS!

 

[Pliablemoose]

Originally posted by: jjsole
Its fair to say there are some buying opportunities...

The question is what the hell to buy?

 

[EKKC]

i lost so much money its not even funny. the past week has been brutal. i think its oversold and once its settled down, there should be lots of bargains to pick up

thank god i put half in savings and half in stocks. i thought i was stupid when it was going up like crazy the previous months

 

[Mermaidman]

Originally posted by: HN
300 points?
This is MADNESS!

 

[Double Trouble]

My question is, when the heck will the fed step in and reduce the interest rate? I know several members of the fed have indicated that there is no real reason to do it now, but I personally think they're going to have to do something in a hurry before this snowballs into something they can't control.......

 

[Ctrackstar126]

Originally posted by: Mermaidman

Originally posted by: HN
300 points?
This is MADNESS!

Madness?
This is WALLL STREEEEETT!!!


Im down 11.62% today

 

[Slew Foot]

Originally posted by: tagej
My question is, when the heck will the fed step in and reduce the interest rate? I know several members of the fed have indicated that there is no real reason to do it now, but I personally think they're going to have to do something in a hurry before this snowballs into something they can't control.......

In theory, the Fed's main job is NOT to save stock markets or jump start economies, it's to ensure a strong US dollar and ward off inflation. The dollar has largely been tanking while inflation is semi-"controlled" if you believe the government numbers. Does the general economy care if the market dives 10%? Not really, the fundamentals are still decent.

 

[Pliablemoose]

52 week high 14,121.00

Current: 12,602.40

Isn't that around 11% in less than a month?

 

[EKKC]

i think credit companies who lend money to people who can never afford to pay the mortgage payments with a non-fixed rate deserves to go bankrupt

i thought this whole subprime thing is a joke, but i didnt think it would affect it the market this bad.

 

[Ctrackstar126]

Yea its not the end of America or the world. Simply put its going to be a good opportunity to buy. What to buy is up to the investor.

 

[Pliablemoose]

Just bought:

$70k in BRK.B

If I had more $ settled, I'd have bought more

 

[Ctrackstar126]

Originally posted by: Pliablemoose
Just bought:

$70k in BRK.B

If I had more $ settled, I'd have bought more

Just bought as in just now or just recently as in the past days.

Oh and :beer: for your gains

 

[Miramonti]

Originally posted by: Pliablemoose

Originally posted by: jjsole
Its fair to say there are some buying opportunities...

The question is what the hell to buy?

Puts?

 

[Ricochet]

FMT is rising like a mofo today.

 

[Pliablemoose]

Originally posted by: Ctrackstar126

Originally posted by: Pliablemoose
Just bought:

$70k in BRK.B

If I had more $ settled, I'd have bought more

Just bought as in just now or just recently as in the past days.

Oh and :beer: for your gains

About 1/2 hour ago

And at this point I'm really glad I bought those corporate bonds in July...