The Market Sucks  

WATCH OUT BDL!!!

Good luck if this even hints at being at all political. Vaporization is on it's way. 

I really hate uber-rich people. I hate the speculators that slash and burn the market daily on whims. Just remember though, you don't lose anything until you sell out at a loss. Fundamentals of a company are not related to or any reflection of speculators and up-down price swings. I would tell you to stay solid, and not to over-fear daily conditions as opposed to long-run possibilities. 

You do not seem to me to be a speculating day-trader. I apologize if I've offended you if you are. I'm not apologizing to anyone else though. 

Quote:

Originally Posted by IceMan 
...I really hate uber-rich people.

Not me, I'm just insanely jealous!
 

BDL 

YOU ARE NOT ALONE . I have been playin market for abot 25 years. First time I have been down so much maybe 40 k total. I have seen it come back many times, but this time is different. These politicians and there non- doing self serving greed  have sealed our fate. From what I read  last month 16 billion dollars was taken out of 401 ks and Ira s. Soon they will have everybody on bread lines. German Banks? is bank America in any better shape  Billions in bad mortgages that are selling at a 50% discount here in Florida.

I just put a lien on a bank for monies owed our association(I am Pres.) and believe it or not they paid,  Lien cost me 10.00 to County Clerk. Plus cert mail cost. I did all leg work myself no attorney. We collected $6000.00

Who me? 

Any money I have, I invest back into my business.  It's my "long term investment scheme".

O.T.O.H. I have a lot of Swiss relatives jumping up and down, and telling everyone "I tolja so!"....

Yep its pretty bad over here too. All I have to say is, if you were thinking of teaching your kids the value of money you'd better hurry up!

Please Stop complaining.

The President says that small business is going to fix all our troubles.

Have faith!!!!!!!!

If I make any more monies on precious metals I will be forced to buy a conviencence store! and put 2 people I can't' communicate with to work.

Oh wait!!! The news is telling me my health insurance rates are going down!!!!!!! I now pay 31,560.00 a year for my wife and I. Wonder what I'm in for???? Oh!!! That's after tax.

In the biggest picture, I think it's the giant market correction that for a long time should have been coming. In my silly opinionated ideology, 11 of the DJIA should split 2:1 and 1 more should go 3:1. That's just me of course. As it is today, the average is UP 6.62% from a year ago. WTF? Why is anyone unhappy, with today's savings rates, with a return like that? The best CD rate APY I could find in the last minute was 2.34%. Shoot, gold has made back $100 in the last week. Is anyone happy with that? 30-year Treasuries are yielding 3.27%. Anyway, maybe I'm just too grumpy. 

Iceman, seeing as how you seem to be fond of criticizing the way this forum is moderated in public, I'm not going to do you the courtesy of responding in private. If you don't like the rules and the decisions made regarding them here, feel free to go elsewhere. You are becoming tiresome.

We've always used the so-called safe investments... neither of us knows enough about it to even consider the stock market. 

I don't remember where I read it, but I saw in an article talking about real estate and that it's not the investment it once was.  I guess with that timing is everything!   I was looking at the MLS listings the other day as we are looking to sell next year and for the fun of it, I wanted to see what the expensive properties in town looked like and I found this

http://www.realtor.ca/propertyDetails.aspx?propertyId=10934947&PidKey=-570387318

Now there is no way on earth we would even consider buying it but it was interesting to look at the pictures and see what a few million would buy!  I would love to see the home just for its historical value but I'm sure we'd have to dress formally or something just to be allowed inside!

BDL,

I sympathize. The thing that concerns me is,, Is it going to be a couple of months??? Actually history kinda tells us it is going to be years unless we pick up arms against

someone else.

I mentioned stocks here a couple of months ago because we all kind of knew this was coming. I was crusified, shot in the back 13 times and labeled a real jerk.

I was swithching everything over into bio. I'm fully concentrated in stem cell therapy. I just wanted some feedback. I'm ok for now. BUT!

The little guys like us will always get hurt >The SEC should regulate short sales when a broker can do it with a million shares. He then sets the price and risk in the rest of market. We can't win anymor. I am simply watching and when Mine break even  GET OUT. I will then buy distressed Flrida forclosures. @ weeks ago I went to a foeclosure auction on courthouse steps. A 165000 original price townhouse went for 15000. it needed some work but not 150,000 worth.

Chefedb:

Many stories here about local guys (Vancouver) buying houses in Florida and getting screwed over, some of the foreclousres are legit, some aren't.

I noticed in one of the posts, someone...I think it was BDL....made a comment about "playing" in the markets.

Has anybody ever realized that is exactly what the stock market is all about? Playing, like a game of poker or more appropriate Russian Roulette! The stock market was built for the rich to legally gamble on their counterparts success or failure. It was never intended to be a sustainable source of income for anyone because of so many variables....the two biggest of which are the whims and idiosyncrasy's of the people involved.

We have a fund, I watch it go up and down with as much fluctuation as the price of gas. It's funny because I decided several years ago that this was not the way for us to go. We went with real-estate and happily, because of BRAC and a few other things.....we're not in too bad of shape. We never had the swing that was seen in so many other markets. Yet I will say that the markets may have worked for my parents back in the 80's but it wasn't going to be as sustainable as it has in the past. So....other than the contribution by the Company....which is going away soon too..... we don't contribute to it. Everyone talks about this "Market Correction" and that things will bounce back. I believe you're fooling yourselves and this is just a part of a big lie to keep your money flowing into their playground. It's my personal belief that it never will rebound in a healthy way, as long as things remain the way they are. There's just too much speculation. You'd almost be better withdrawing the money, taking the hit on penalties and fees and taking the money to Vegas or Atlantic city and throwing it on a bunch of different tables.

We also place too much emphasis on one position or role in things. It's the whole ball of wax and not just one individual or branch. Think about it. Who makes the laws? Who are the ones that have been holding their positions for 10-20-30-50 years? Now we have a new thought and he one person behind that thought has been ostracized by the talking heads. Plus......all I see are the people that benefited from all we that has done in the past 80 years, throwing their noses up and blaming the system for the problems. Everything we are afraid of becoming is present in every aspect of our society. It's all there. Socialism, Dictatorships, Fascism, Democracy.....I just can't seem to find any Republic or any of the beliefs that brought us the 210 years before all this mess started.

Where would any of us be without the schools and programs we all enjoyed growing up? I am a product of that "Boom" and believe you me.....I have much respect for the people that helped shape my life but all the majority of anyone does is jump on a band wagon and show contempt for things. Yes there is room for improvement but I have to agree with something that I heard someone say..........I'm all for rules of the road.....just smarter rules and some everyone will follow.

Playing the stocks, playing poker, playing Russian Roulette.........it's nothing more than playing the odds. Yet the one big difference is.......everyone that is running the show and playing these odds are screwing with our country and our lives. What they do doesn't just affect them and their circle.....it affects the whole world but until people start to see this......things are gonna get much worse before they will ever get better. Well....everyone can stop worrying about heading for a two class system......it arrived in 2006....We just had to wait for it to "trickle down"! 

IMHVPO and....................

That's all I have to get off my chest. Soapbox neatly tucked under bed once again.

Quote:

Originally Posted by foodpump 

Chefedb:

 

Many stories here about local guys (Vancouver) buying houses in Florida and getting screwed over, some of the foreclousres are legit, some aren't.

I've heard the same thing as well.  60 Minutes did a piece earlier in the year about homeowners in the US walking away from their homes because they could no longer afford the mortgage and knew that forclosure was imminent.  It was sad.. some of these people were middle aged and heading towards retirement when they were faced with that. 

The mortgage and foreclosure situation is the fault of greed. Greed by the banks.Most homes here that were purchased the outstanding mortagage is more then the house could be sold for. Therefore walk away. There was a man down here on local news  82 years old not in best of health mentally applied for mortgage 250000 house 17000. down was approved for mortgage. 82 +30 is 112. Think he will live to pay it off? Yep blame the banks for the easy approval of mortgages and Oh yes  blame  Alan Greenspan too. Bank America holds more deinquent mo.rtgages then they have in cash I dont give them that long either, I hope I am wrong.,But look at Lehman Bros.

Beg to differ ChefEDB,

Some of the blame has to be placed on our Congress persons and Administration that mandated the reduction in down payment requirements and the relaxation of income verification because "home ownership was for the public good".

A long time ago, someone figured out that homeowners, in the days of 20% down and 15 year mortgages, are responsible people. In our lawmakers infinite wisdom, they concluded, gee, if we make people homeowners, they will become responsible, therefore, lower the down payment requirement, lengthen the term from 15 to 30-40 years. allow interest only, and penalize the banks that don't comply. Dumb, dumber, and dumbest!

Old bankers died, and the new young bankers think this is the way it always has been.

Oh, to shore up the risky loans? Well, what do you think is the purpose of Fannie Mae and Fannie Mac, hmm????

Little off topic.

  Is it possible my no nothing little poker group bought a 6 yr old strip center in Nevada for 18 months back tax???

Let's see. That's about .060 value. No tenents. CAM 800. mth. We're running to marry each other to get this done!!!

I'm leary!!! But I'm in !!!!

You supposedly can see the strip from this property. Buddies say Culinary school!! I say depreciate it!!!!

Awe shucks, I misread "strip center" , I thought it was strip club!

This financial talk is all Greek to me... all I know is we get a statement every month telling us where we are at and that is good for us. 

iTS YOUR $, YOU SHOULD BECOME MORE AWARE AS TO HOW IT IS INVESTED .In particular if someone else is investing for you ie 401k Ira, mutual etc.. They mske $ whether you gain or lose. You Do not.

That's what my sister in law who worked in banking for years keeps after us about.  Slowly we're becoming more aware but I find the tech talk of the financial world very challenging to say the least. 

My adviser said, "Cheer up, things could be worse!", so I cheered up and sure enough, things got worse!

LOL Pete... so I guess we should just all be grumpy? 

All joking aside we all have to watch out for our futures and for me that means becoming more aware and learning to understand the jargon that seems to impermeate the financial world.