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While the futures are up at the moment let's see if it holds until the close. I've now lost almost half my retirement investments and I'm well diversified so I hope it does go back up.
I was thinking that the market was going to go back up today-if not by alot, just a little. Maybe once people slept on this and everything sunk in....panic is what is going on and I am sure some people benifited from this.
While the futures are up at the moment let's see if it holds until the close. I've now lost almost half my retirement investments and I'm well diversified so I hope it does go back up.
No offense, but this should indicate to you that you weren't well diversified. You are doing far worse than the market average. Personally, I haven't lost a thing, but I largely avoid risk.
And the sad thing is, there are people who unwittingly invested their entire (or most) of their 401K in their own company's stock (their rationale being, since I work for the company, I want it to do well)
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Originally Posted by Humanoid
No offense, but this should indicate to you that you weren't well diversified. You are doing far worse than the market average. Personally, I haven't lost a thing, but I largely avoid risk.
No offense, but this should indicate to you that you weren't well diversified. You are doing far worse than the market average. Personally, I haven't lost a thing, but I largely avoid risk.
I would have to disagree. Yesterday for every 25 downs there was one up so IMO you'd have to be real lucky not to have sustained a loss. The one that shocked me was the $4 drop in PM.
I haven't sold anything so I haven't lost anything. The paper value may be lower but would have to drop a lot more to go below what I paid for these shares.
I would have to disagree. Yesterday for every 25 downs there was one up so IMO you'd have to be real lucky not to have sustained a loss. The one that shocked me was the $4 drop in PM.
Agreed. Gold was up, but all my gold and mining stocks were down considerably, oil is down, tech is down, blue chips are down, large caps, small caps, CPG, global-- every sector is way down. Mutual funds with even rock solid financials are taking big hits. My pension plan is conservatively invested, and I got an email alert yesterday, saying that the plan is now on target to meet only 80% of its obligations. And that was before yesterday's drop.
There are no safe havens in equities right now. None. To sell is to lock in a loss, and with pension plans, you don't even have that option. While bailing out the foolhardy banks is grabbing all the headlines, the real story is how to fund the retirements of all the diligent savers and planners, who're being wiped out and can't wait ten years for retracement.
This policy started back with the Savings and Loan crisis. A speculative market requires infinite amounts of money to keep going. Forcing most people to invest in the market instead of guaranteed Savings provided the money for the gamblers. Fraudulent use of uncertain mortgages just provided more. They ran out of new money and the game ended.
Anybody still think the "rules" for savings and investing for your retirement were set up for your benefit? The people that played the straightest are the people that are going to loose the most. The game was set up to reward the fraudulent and the expense of the trusting. They, the financiers that used your money to fund the speculators, won. You lost. I lost, We lost.
This policy started back with the Savings and Loan crisis. A speculative market requires infinite amounts of money to keep going. Forcing most people to invest in the market instead of guaranteed Savings provided the money for the gamblers. Fraudulent use of uncertain mortgages just provided more. They ran out of new money and the game ended.
Anybody still think the "rules" for savings and investing for your retirement were set up for your benefit? The people that played the straightest are the people that are going to loose the most. The game was set up to reward the fraudulent and the expense of the trusting. They, the financiers that used your money to fund the speculators, won. You lost. I lost, We lost.
Good points! Rep to ya... The issue from where I sit is where do we go from here?
I would have to disagree. Yesterday for every 25 downs there was one up so IMO you'd have to be real lucky not to have sustained a loss. The one that shocked me was the $4 drop in PM.
That would be the stock market, something I'm not heavily invested in at the moment. Like I said, I don't like much risk. I didn't loss anything yesterday.
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who're being wiped out and can't wait ten years for retracement.
If you are within 10 years of retirement then you should only be modestly invested in stocks. What people are learning today is that the stock market is risky. It seems a lot of very obvious things have been forgotten lately... Why exactly should one feel bad for people that gambled and now have to pay the price?
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