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Old 01-05-2010, 01:59 PM
 
Location: Land of debt and Corruption
7,526 posts, read 7,194,115 times
Reputation: 2845

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Quote:
Originally Posted by LordBalfor View Post
As this guys' dwarf yours (and he's just one of many (many of whom were pretty negative previously)?

"U.S. economic growth as measured by real gross domestic product will top 5 percent in 2010 and the unemployment rate will fall below 9 percent, longtime Wall Street strategist Byron Wien said on Monday.

Wien, who correctly called the commodities rally and rebound in China in 2009, said in his "Ten Surprises for 2010" on Monday he expected exports, inventory building and technology spending to lead economic growth
."

Blackstone's Wien: US Real GDP Will Top 5% in 2009 - CNBC (http://www.cnbc.com/id/34711441 - broken link)

So you posted a link to a "economic Bear"? So what? Opinions are ALL OVER the place. What counts is what's been happening - and that is mostly GOOD NEWS. Many numbers that previous have been VERY NEGATIVE (housing foreclosures, layoff, etc) are becoming less solidly negative. Many other numbers that were NEGATIVE have started to turn positive (factory orders, consumer confidence, etc). Overall everything that was collapsing has either slowed that collapse dramatically or completely reversed the collapse. Those things that have completely reversed their collapse are definitely GOOD NEWS, while those that have slowed their collapse are very likely to reflect GOOD NEWS very soon.

And ALL of that is GOOD NEWS.



Ken
Methinks someone is spiking your koolaid with happy pills
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Old 01-05-2010, 02:05 PM
 
Location: SE Arizona - FINALLY! :D
19,868 posts, read 22,727,547 times
Reputation: 7167
Quote:
Originally Posted by whatyousay View Post
Methinks someone is spiking your koolaid with happy pills
Those "happy pills" have boosted my 401K DRAMATICALLY.



Ken
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Old 01-05-2010, 02:14 PM
 
Location: Land of debt and Corruption
7,526 posts, read 7,194,115 times
Reputation: 2845
Quote:
Originally Posted by LordBalfor View Post
Those "happy pills" have boosted my 401K DRAMATICALLY.



Ken
My 401K has seen huge improvements too. Still not back to where it should be, but time is on my side. Luckily I have a good 25 years for the markets to right themselves.
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Old 01-05-2010, 02:32 PM
 
Location: SE Arizona - FINALLY! :D
19,868 posts, read 22,727,547 times
Reputation: 7167
Quote:
Originally Posted by whatyousay View Post
My 401K has seen huge improvements too. Still not back to where it should be, but time is on my side. Luckily I have a good 25 years for the markets to right themselves.
Well, if you'd have followed MY advice you would be.
Thanks to getting out of the market back in November 2008 and getting back in just after the absolute bottom in March 2009, I've recovered EVERYTHING I lost (and then some).

Now, if only I'd been a little smarter a little sooner and gotten out of the market before the big crash of Sept 08 I could have REALLY made a killing.

Oh well. I'm still happy with the way things turned out.
Good thing I didn't listen to all those "doom and gloom" folks throughout 2009 though (the time for "doom and gloom" was PRIOR to 2009 - specifically 2008).



Ken
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Old 01-05-2010, 02:35 PM
 
7,987 posts, read 11,200,590 times
Reputation: 2704
Quote:
Originally Posted by LordBalfor View Post
Well, if you'd have followed MY advice you would be.
Thanks to getting out of the market back in November and getting back in just after the absolute bottom, I've recovered EVERYTHING I lost (and then some).

Now, if only I'd been a little smarter a little sooner and gotten out of the market before the big crash of Sept 08 I could have REALLY made a killing.

Oh well. I'm still happy with the way things turned out.
Good thing I didn't listen to all those "doom and gloom" folks throughout 2009 though (the time for "doom and gloom" was PRIOR to 2009).



Ken
I listened to my trust officer and he was sort of doom and gloom....guess what, I still made great money in 2009. Doom and gloom talk helps advise one what gloom to stay away from.
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Old 01-05-2010, 02:57 PM
 
Location: Land of debt and Corruption
7,526 posts, read 7,194,115 times
Reputation: 2845
I don't try to time the markets. I'm in it for the longhaul, not short term gains.

How did you move your 401K out of the market completely in 2008? Wouldn't you have to claim it as income then?
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Old 01-05-2010, 03:10 PM
 
Location: SE Arizona - FINALLY! :D
19,868 posts, read 22,727,547 times
Reputation: 7167
Quote:
Originally Posted by whatyousay View Post
I don't try to time the markets. I'm in it for the longhaul, not short term gains.

How did you move your 401K out of the market completely in 2008? Wouldn't you have to claim it as income then?
I moved it into a "stable value" type fund that offered a guarenteed rate of return. It was a small return but it was "safe". Once I thought things were turning around, I moved it back into a stock-related fund. It remained a 401K the whole time and I didn't "withdraw" the money, I simply moved it to a fund that was not volatile then moved it back.

Ken
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Old 01-05-2010, 03:11 PM
 
20,840 posts, read 39,059,222 times
Reputation: 19074
Quote:
Originally Posted by gsupstate View Post
I listened to my trust officer and he was sort of doom and gloom....guess what, I still made great money in 2009. Doom and gloom talk helps advise one what gloom to stay away from.
Regardless, whether it's doom/gloom pessimism or sky's the limit/can't lose optimism, both should be given a wary eye.
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Old 01-05-2010, 03:14 PM
 
Location: SE Arizona - FINALLY! :D
19,868 posts, read 22,727,547 times
Reputation: 7167
Quote:
Originally Posted by gsupstate View Post
I listened to my trust officer and he was sort of doom and gloom....guess what, I still made great money in 2009. Doom and gloom talk helps advise one what gloom to stay away from.
Most were "doom and gloom" - and there WAS reason to be - but there was also reason to be optimistic. The tricky part was determining WHAT to believe. I WISH I had been "doom and gloom" EARLIER (I'd have saved myself some BIG losses in 2008) - but alas hindsight is always 20/20.

Ken
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Old 01-05-2010, 03:15 PM
 
7,987 posts, read 11,200,590 times
Reputation: 2704
Quote:
Originally Posted by Mike from back east View Post
Regardless, whether it's doom/gloom pessimism or sky's the limit/can't lose optimism, both should be given a wary eye.
True. But, at the moment, the US is NOT better off under Obama. We have 10 percent unemployment and record foreclosure numbers. Obama fans can "wish" things were better, but the facts speak for themselves. Facts can not be changed.
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