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If you pick good, solid companies then you don't have to worry about the downward moves in the overall market, excpet to think of them as buying opportunities. Nobody is smart enough to call the absolute bottom, so buy now, and if it goes lower, buy more. You'll be glad you did in a year or two. Read the quoter below, because it's the smartest thing I've ever read about investing anywhere:
"Bargains are the holy grail of the true stockpicker. The fact the 10 to 30 percent of our net worth is lost in a market sell-off is of little consequence. We see the latest correction not as a disaster but as an opportunity to acquire more shares at low prices. This is how great fortunes are made over time."
-Peter Lynch
What is also great is that there are so many hedge funds, mutual funds, and so many pensions and retirements invested in them, that there is ALWAYS going to be demand in the market. So while it may tank some, it will certainly always bottom, and while it may keep a downward trend for a bit, there will always be huge buying peaks where these big buyers are trying to get in at.
And because all of these huge funds are waging war its leaving many cracks for the little guy to make some cash. If one were to have followed Citi just this year, I count at least once a month that decent cash could have been made. In addition, the way its going right now, its rising maybe .10-.15, and giving it back in the next few days, just to get it back, since it seems locked into the 3.65-4 range. The very vigilante trader could make a few hundred bucks a week with 10k on just Citi.
I've owned it for more than a decade. Not happy with the results...
agreed, although some are saying that Obamacare may be a net + to these companies as people become a capitive audience by being forced into the healthcare system (and that should offset any price pressure).
agreed, although some are saying that Obamacare may be a net + to these companies as people become a capitive audience by being forced into the healthcare system (and that should offset any price pressure).
I agree...I bought MRK and a bit more PFE. MRK has done well for me. Now if Obama lets the capital gains tax remain, I may start to like him. Big shift in investing for me if I pay 28-36% tax on gains vs 15%.
I agree...I bought MRK and a bit more PFE. MRK has done well for me. Now if Obama lets the capital gains tax remain, I may start to like him. Big shift in investing for me if I pay 28-36% tax on gains vs 15%.
long-term CG taxes are going to 20% next year. That should be the same for anyone, regardless of income level.
Now if you make over $250 K in a family, you will pay 23.8% because of the new obamacare tax in 2013.
I agree...I bought MRK and a bit more PFE. MRK has done well for me. Now if Obama lets the capital gains tax remain, I may start to like him. Big shift in investing for me if I pay 28-36% tax on gains vs 15%.
After a year, its 15% Long term capital gains tax.
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