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10/07/2008 07:21:03 AM · #26 |
Originally posted by jtf6agent:
My 401 K is exactly that $4.01 now. Thank you George Bush. |
You let George Bush invest for you? :) |
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10/07/2008 08:20:24 AM · #27 |
Originally posted by jtf6agent:
My 401 K is exactly that $4.01 now. Thank you George Bush. |
I love how the president always gets the blame. (or credit) He's so powerless ... sometimes even his one and only power (veto power) gets overridden. I'd hate to be president.
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10/07/2008 08:42:22 AM · #28 |
Originally posted by Mick:
You keep mentioning taking money out, and that's not what I said at all. I talked about moving it, not taking it out. And I didn't say anything about moving it around constantly either. I said move it temporarily into safer investments within your plan. |
Mick-If you move it now within the account (to bonds?) you affirm your loss at that rate of sale. I suppose it depends on when you need the money.
All the prices are in the margin until the moment you sell. So as I see it, Apple is a $202 stock even though it's trading at $98. I don't care what todays pricetag reads. Citibank (which I bought last month @ $19) is at $17 but I believe it's actual worth is $30-40. If I needed to cash them in to live, right now, I'd be bumming.
I may even buy Citi if it drops to $14-15 out of my Roth IRA account. When I need the money it will hopefully be back or higher to it's actual worth. Whatevers in my account now is almost fictional since I can't get it and I won't need it for 20 years.
A few people were advising to put money into college funds because this Recession/Depression may not go longer than a few years (2-5 years)indicating a look towards the future BUT who really knows?
People who panic will certainly become the first losers in this situation. Those with cooler heads will make solid gains in the long run.
Message edited by author 2008-10-07 10:25:27. |
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10/07/2008 10:30:33 AM · #29 |
| The question is, do you think it will get even worse before it starts getting better? Have we hit bottom yet? |
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10/07/2008 11:55:27 AM · #30 |
Originally posted by LoudDog:
The question is, do you think it will get even worse before it starts getting better? Have we hit bottom yet? |
It could easily get worse.
It's hard to pick the absolute bottom but it's safe to say that many stocks are already selling way under value, right now.
I may wait a few weeks before I purchase anything else. Look for fears to settle a bit, make sure most of the panic sellers are done doing their damage and buy as things appear to be going up. Still keep in mind that if you buy...don't bother looking at them for another 5-10 years.
I'm certainly no expert but I'm willing to gamble a bit of money. If I had a little more extra cash and the rocks, I'd be doing the Warren Buffet shuffle.
Message edited by author 2008-10-07 12:10:50. |
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10/07/2008 12:01:53 PM · #31 |
Originally posted by pawdrix:
I'm certainly no expert but I'm willing to gamble a bit of money. If I had a little extra cash and the rocks, I'd be doing the Warren Buffet shuffle. |
LOL. I have just enough rocks to sleep at night and ignore short-term volatility, but not enough rocks to actually put more in. :)
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10/07/2008 12:06:18 PM · #32 |
I'm guessing Warren thinks it's going to turn around. He spent $3billion on GE and $5billion on Goldman Sachs all while shit was hitting the fan. The Goldman deal looks pretty sweet to me, classic case of a strong company's stock dipping due to market panic. Warren came in and scooped up a shitload of their stock on the cheap and will most likely come out smelling like roses when all is said and done.
As for my $401K, haven't looked yet, no sense really since I am young and staying in the higher risk for a large portion of my portfolio anyway. Lost a crap load on 9-11 and gained it all back and I will gain it all back after this debacle as well. |
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10/07/2008 12:09:34 PM · #33 |
Originally posted by trevytrev:
"I'm guessing Warren thinks it's going to turn around. He spent $3billion on GE and $5billion on Goldman Sachs all while shit was hitting the fan. The Goldman deal looks pretty sweet to me, classic case of a strong company's stock dipping due to market panic...."
"Lost a crap load on 9-11 and gained it all back and I will gain it all back after this debacle as well." |
There ya go...
In Warren I Trust |
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10/07/2008 12:10:15 PM · #34 |
...
Message edited by author 2008-10-07 12:10:32. |
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10/07/2008 12:13:08 PM · #35 |
IF you have a long time horizon, it is probably better just to ride it out and actually add on during the scary drops like this. Timing the market is notoriously hard. Sure, it's easy to see we are 30% down NOW, but when we were 10% down, who could have said whether it was a "correction" or something like this?
That being said, I do ignore my own advice from time to time. On Friday, before the vote was over and the market was still up 3% I sold 20% of my portfolio and bought gold and cash. At least this week I look like a short-term genius, but I could still easily be the long-term fool.
In the years I've been investing (which hasn't been that long due to all my salary-lacking training), I simply watch my investments compared to the S&P. The truth, which is boring, is that it is really hard to actually beat simply putting your money into an S&P500 index over the long term.
Message edited by author 2008-10-07 12:13:30. |
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10/07/2008 01:07:43 PM · #36 |
I actually find the whole market thing boring. I have no interest in it. My financial advisor takes care of all my finance. She is so good, that I even sleep with her. :P
hence...she is my wife... ;)
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10/07/2008 01:23:01 PM · #37 |
You don't lose money until you sell. I don't care if it goes down... that just means I'm buying cheap!
My 401k value has gone down about 10%.
-Chad |
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10/07/2008 01:48:05 PM · #38 |
Originally posted by levyj413:
Originally posted by pawdrix:
I'm certainly no expert but I'm willing to gamble a bit of money. If I had a little extra cash and the rocks, I'd be doing the Warren Buffet shuffle. |
LOL. I have just enough rocks to sleep at night and ignore short-term volatility, but not enough rocks to actually put more in. :) |
Oops - a correction. I put away 10% of my salary in my 401K, and the gov't adds another 5%. I'm still doing that.
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10/07/2008 01:55:30 PM · #39 |
| Let's remember Warren has some clout. Because he was investing billions he was able to score some sweet extra incentives in preferred stock that you and I would have no access to. It's possible that such incentives made the difference between Warren getting in or staying out. |
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10/07/2008 02:30:45 PM · #40 |
| mine has taken a considerable hit ... but I'm going to continue to max out my contributions and hope for the best ... I figure right now, I'm buying at a discount! |
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10/07/2008 02:33:24 PM · #41 |
Originally posted by pamelasue:
mine has taken a considerable hit ... but I'm going to continue to max out my contributions and hope for the best ... I figure right now, I'm buying at a discount! |
Exactly. If you do monthly contributions you will benefit in the long run as you will weather the changes better than if you try and time the market for the ups and downs and buy big lump sums.
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10/07/2008 03:31:28 PM · #42 |
| In answer to the original question, I lost about 6.5 % in the past few months. I'll just ride it out, I suppose. |
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10/08/2008 12:17:56 PM · #43 |
Originally posted by pawdrix:
I may even buy Citi if it drops to $14-15 out of my Roth IRA account. When I need the money it will hopefully be back or higher to it's actual worth... |
Citibank's at $14.14. May have a ways extra to go down. Buy at $12 and don't look back?
Message edited by author 2008-10-08 15:17:26. |
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10/08/2008 01:46:21 PM · #44 |
Let's see, I lost 50% to my ex, then all of this... I have about 15% of where I started.
If this keeps up, I'll be able to use it to buy a McD's hamburger for my retirement dinner, I might even splurge and get a cheeseburger. Now isn't that something to dream about while I toil for an ungrateful employer?
Message edited by author 2008-10-08 13:47:08. |
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10/08/2008 07:19:41 PM · #45 |
Originally posted by pawdrix:
Citibank's at $14.14. May have a ways extra to go down. Buy at $12 and don't look back? |
Just curious, but are you talking about buying individual stocks through a 401K plan, or just a personal stock purchase? I've never seen a 401K that would allow you to buy shares of an arbitrary stock.
For myself, I have a sizable chunk in an old 401K that I'm currently rolling over to my new 401K plan. A while back I moved the entire balance into a single 'safe' fund. It's been earning about 3% interest. I'm hoping that the rollover deposit will hit my new account before the market recovers.
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10/08/2008 07:26:29 PM · #46 |
A number of 401K plans allow a brokerage window.... my current one only allows a window for buying mutual funds but all my past jobs have had a brokerage option. I love it (hate the restriction on the MF) cause I use ETF's to get better funds given most plans funds stink.
As for the orig question.... um not so good really since it's hitting all asset classes but I am still far in the black over the last decade :-) Been updating the figures so I can do some rebalancing :-)
Message edited by author 2008-10-08 19:27:45. |
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10/08/2008 07:40:04 PM · #47 |
Originally posted by robs:
most plans funds stink. |
This is the unfortunate truth with 401k's. Somehow fund managers think they can scam an extra 0.5-1% in expense ratio simply because you don't have a choice. Go figure. |
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10/08/2008 07:59:56 PM · #48 |
| I'm down about 20% and half of that was just in the last few days. Oh well, I'm a ways away from retiring anyway so I'll make it up and keep throwing my money in every check. |
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10/08/2008 09:35:14 PM · #49 |
I'm down 35% My plan is more aggressive for retirement in 2045-2055 so at least I won't be needing it for awhile. Kinda stinks though when all of my contributions for the last 4 months went away in about 2 weeks.
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10/08/2008 10:19:04 PM · #50 |
Originally posted by Mick:
Originally posted by pawdrix:
Citibank's at $14.14. May have a ways extra to go down. Buy at $12 and don't look back? |
Just curious, but are you talking about buying individual stocks through a 401K plan, or just a personal stock purchase? I've never seen a 401K that would allow you to buy shares of an arbitrary stock.
For myself, I have a sizable chunk in an old 401K that I'm currently rolling over to my new 401K plan. A while back I moved the entire balance into a single 'safe' fund. It's been earning about 3% interest. I'm hoping that the rollover deposit will hit my new account before the market recovers. |
Mick-I did think that some 401k's had some trading options...not sure though and I did assume that's what you were alluding too when you mentioned realigning your portfolio.
I've been trying to figure out which stocks fit into that tried and true rough weather formula and pretty much came up with the usual American staples...Johnson n Johnson, Campbells Soup, Kraft Foods (which I picked up 30 shares of last week). A few of the Econo Talking Heads mentioned the Financial's tonight in fact, Morgan Chase, Goldman and a few other stronger runners. They made me realize that I am on the right track. I'm looking at Citi but I could also spread some love in one of those other directions. This might be a good time to buy but only in nibbles.
I also think this whole event has pretty much shown that none of these financial wizards actually don't know shit, so Funds aren't my personal choice. I assume I'm smart enough to play the same guess work they are, so why pay them to do what I can do on my own. I can always follow their moves and buy what they buy...just look at their holdings, right? ETFs are awesome and they trade like stocks. I own seven ETfs in Chile, Germany, Japan, Korea, Asia Pacific and India but they are easy to get in and out of.
I am way down now but I'll bet in 10-15 years things will be back to normal and we will have forgotten about all of this silliness.
Message edited by author 2008-10-08 22:24:29. |
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