Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Very poor analogy, Vegas games are designed to give the house an edge so casinos make money. You will find very few periods in history where the stock market didn't make money over a long enough timeframe.
The person you knew was a fool for cashing out at the bottom.
I dont care what you call it, its nothing but gambling, if you have the money to put in it you had better be able to lose it as well. That time is now and has been for the last 15 years as the small amount I have in it has gone no where with 401k's. And they want to change you over to this over social security. Good luck with that BS.
Where he was a fool was putting it in, in the first place. Oh no the stock market hasn't crashed in years and years. lol There was no choice it was inheritance money and needed to be divided up. And it wasn't cashed out at the bottom it was in the middle somewhere.
Google on Ravi Batra and you will see the US is going to be toast (well, IMHO, it is, but most don't know it yet).
I betcha the Romans were sitting around saying the same sort of stuff, before Rome fell. All Empires do.
lol, and SMU is ranked what in economics? Seriously, read the work of people who are at the top of the field. Also, be careful with such absolute predictions. People are very adaptable and very resolute.
Here are a few other quotes that were given by 'experts'.
"Louis Pasteur's theory of germs is ridiculous fiction".
-- Pierre Pachet, Professor of Physiology at Toulouse, 1872
"Drill for oil? You mean drill into the ground to try and find oil? You're crazy."
-- Drillers who Edwin L. Drake tried to enlist to his project to drill for oil in 1859
"Heavier-than-air flying machines are impossible."
-- Lord Kelvin, president, Royal Society, 1895
"There is no reason anyone would want a computer in their home."
-- Ken Olson, president, chairman and founder of Digital Equipment Corp., 1977
I dont care what you call it, its nothing but gambling, if you have the money to put in it you had better be able to lose it as well.
Well yeah we could debate semantics with the word "gamble" but I was just taking issue with comparison to a Vegas gaming where over enough plays you will certainly lose. That isn't the case with the stock market.
Quote:
That time is now and has been for the last 15 years as the small amount I have in it has gone no where with 401k's.
DOW 1995: under 4,000
DOW today: over 11,000
If you had invested regularly in a board market index fund like our friend Charles with his S&P 500 index fund it would have certainly had some returns on your 401k.
Quote:
Where he was a fool was putting it in, in the first place. Oh no the stock market hasn't crashed in years and years. lol There was no choice it was inheritance money and needed to be divided up. And it wasn't cashed out at the bottom it was in the middle somewhere.
Short term stocks can indeed take huge losses, nobody has claimed otherwise. Invest for the long run, take a guess how many 30 year periods in history the stock market has lost money.
Your friend was foolish but dumping a windfall into the stock market, he should have put it somewhere safe and DCA'd into whatever asset mix is appropriate to his risk over an extended period of time. He was also foolish for panicking and selling low.
No, I mean this guy. He admits he hasn't gotten it all right, just most of it.
Yup, that is the same guy. You don't have even a niggling of doubt over someone who so famously failed with his Depression 1990 books now making more money selling economic calamity?
He's also know for predicting an doomsday rampant inflation starting in 2000, I think it got above 3% once the ensuing decade.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.