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Old 09-17-2008, 10:59 AM
 
Location: New Jersey/Florida
5,642 posts, read 11,206,156 times
Reputation: 3934

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Is it me or is it a combination of everything. One of the guys at work was complaining his 457K went down 5,000 the other day. He failed to mention all the days that it went up 3 and 4 thousand in the last 10 years. This is a guy that has 400K in a retirement fund and is complaining he lost 5K in a day. He was heavily invested for years in the emerging markets and made a ton of money. Even with the stock market falling the Dow Jones is down to last years numbers. People fail to remember when they made 20, 30 and 40 percent a year and only complain when it goes the other way. The people on TV can't wait for the markets to fall. We hit a high last year and are returning. Just like homes went up and are now coming down. I don't know i'm a guy that likes to see the glass as half full not half empty. Your thoughts and let's leave the presidential election out of this.
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Old 09-17-2008, 11:34 AM
 
5,340 posts, read 12,988,331 times
Reputation: 1173
I don't know, I'd need to see some sort of proof or link or something!
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Old 09-17-2008, 11:36 AM
 
Location: Bergen County New Jersey
6 posts, read 18,341 times
Reputation: 10
Perhaps it would be best if I don't post under a topic called "Doom and Gloom". I have become very paranoid as the thousands have dropped off my 401K. I told my FC at least give me the funds for now that are the equivalent of keeping the money under my mattress - anything to stop the losses!
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Old 09-17-2008, 01:00 PM
 
Location: Stewartsville, NJ
7,577 posts, read 20,993,694 times
Reputation: 1253


That's all I have to say about it : )))
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Old 09-17-2008, 01:04 PM
 
Location: New Jersey/Florida
5,642 posts, read 11,206,156 times
Reputation: 3934
When some people were making thousands I didn't read any posts I made 5K today what about you. I mean Google stock at 700 dollars and Goldman Sachs at 250 share do ya think they might have been overpriced. Sometimes we, us are our own worst enemy. One of my good friends works for AIG and he lost 150K in a week as he did not diversify his holdings and had 65 percent of his holdings in one company that he worked for.
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Old 09-17-2008, 01:15 PM
 
Location: 32°19'03.7"N 106°43'55.9"W
8,267 posts, read 18,184,397 times
Reputation: 7747
I suppose it's time to sell the kids, move to Zanzibar, and begin taking opium rectally.

Or, on the other hand, perhaps the natural ebb and flow of free markets will correct itself in due time, with minimal government intervention.

Incidentally, while AIG and Lehman Brothers were throwing themselves off rooftops, did anyone notice that Morgan Stanley and Goldman Sachs recorded healthy profits?
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Old 09-17-2008, 01:38 PM
 
Location: High Bridge
2,736 posts, read 8,986,332 times
Reputation: 670
Quote:
Originally Posted by JERSEY MAN View Post
When some people were making thousands I didn't read any posts I made 5K today what about you. I mean Google stock at 700 dollars and Goldman Sachs at 250 share do ya think they might have been overpriced. Sometimes we, us are our own worst enemy. One of my good friends works for AIG and he lost 150K in a week as he did not diversify his holdings and had 65 percent of his holdings in one company that he worked for.
A reading from the book of Enron: Diversify.
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Old 09-17-2008, 01:58 PM
 
5,340 posts, read 12,988,331 times
Reputation: 1173
LMAO Wiley - wish I could rep ya. You too Mike first line is a zinger.
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Old 09-17-2008, 01:59 PM
 
730 posts, read 2,700,654 times
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Markets go up and markets go down. Yep, I'm a little scared but I won't be tapping into my 401K for at least 25 years so I think I will just leave it in there as is.

I feel for the people who loose it all because their company goes under. But there are also people who don't even have a 401K and I feel for them as well.

The market is a risk, plain and simple.
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Old 09-17-2008, 02:29 PM
 
526 posts, read 1,289,281 times
Reputation: 74
I love all the doom and gloom, I was thinking of sending in some money for 2008 IRA contribution early. It is looking like a good time to buy the S&P 500.
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