jack_schist Posted September 2, 2009 Report Share Posted September 2, 2009 I had to let my chauffeur go. Link to comment Share on other sites More sharing options...
Old Hippie Posted September 2, 2009 Report Share Posted September 2, 2009 Wow, rough deal, and believe me, I can relate. I recently had to drop down to the $30 special girls on Craigslist...scary as it is... Link to comment Share on other sites More sharing options...
Dexi Posted September 2, 2009 Report Share Posted September 2, 2009 My biggest mistake was having no cash to put in during the market lows of March this year ( FT100 3600)is it too late to get in now :dunno maybe fixed interest looks a better bet for the next couple of years.... Link to comment Share on other sites More sharing options...
cardinalblue Posted September 2, 2009 Report Share Posted September 2, 2009 Unless one studies the market full-time, buying and selling of timing the market doesn't work for me. I am in the long run meaning another 15 years until retirement kicks in.. In ten years, I will look again in seeing how IBM, CISCO, MSFT, J&J, etc and either get out completely or not... Unless you are W. Buffet, the average Joe who thinks he knows how to outfox the market is more apt to lose than gain when playing the timing game... CB Link to comment Share on other sites More sharing options...
Old Hippie Posted September 2, 2009 Report Share Posted September 2, 2009 Depends who you talk to, some say the real shit is still coming...more homes will foreclose, more loans/businesses defaulting etc...so who knows? As for "what have I lost?" most of all, I lost my dream. I was set to retire at age 56 in Thailand. I took a 30%++ salary and benefit cut, lost my pension, and some want to take my medicare and Social security away...now, most likely I'll die on the toilet at work when I'm old like so many before me... Link to comment Share on other sites More sharing options...
teddy Posted September 2, 2009 Report Share Posted September 2, 2009 Unless one studies the market full-time, buying and selling of timing the market doesn't work for me. I am in the long run meaning another 15 years until retirement kicks in.. In ten years, I will look again in seeing how IBM, CISCO, MSFT, J&J, etc and either get out completely or not... Unless you are W. Buffet, the average Joe who thinks he knows how to outfox the market is more apt to lose than gain when playing the timing game... CB That is bullshit and is just what financial advisors want you to believe. "you can't time the markets and in the long run stocks have always gone up, blah blah blah" In other words, don't try and take control of your own money, let us do it, keep paying us big commissions and in return we will lose most of your money, blame it on the markets and ask you for more, convincing you that now is the best time to invest. I have been investing for the last twenty years and since losing money in the first five years by listening to asshole financial advisors I have taken control myself and have made minimal losses compared to big gains by timing the market both ways, long and short. And consider this. When you said, "Unless you are W. Buffet, the average Joe who thinks he knows how to outfox the market is more apt to lose than gain when playing the timing game" Did you really have to be Warren Buffet to see how the markets would collapse after the banking crisis and even well before when countless experts where predicting it. Do you really have to be Warren Buffet to know what the average length of a bull market is and how it is always followed by a bear market? The big problem with people timing the market is that are too fecking greedy and stay in too long thinking times will not change. When you have made a good profit, take it and get out, don't just wait until the stock markets collapse. If you do wait too long, then get out at the first signs, don't just act like a deer caught in headlights. Of course, if you let some nice financial advisor manage your money, you have much less chance of getting out without suffering big losses because he will have structured your portfolio in a way that makes it easy to get money in but penalises you for getting it out. In short, don't believe these bullshit cliches that you can't time the market and it is better to stay in for the long term and keep paying nice Mr Financial Advisor his commissions. Link to comment Share on other sites More sharing options...
allistar Posted September 2, 2009 Report Share Posted September 2, 2009 If what Munchie says, and you watch the financial markets all day, I'll pass. I value my time more than that. Link to comment Share on other sites More sharing options...
zzzz Posted September 3, 2009 Report Share Posted September 3, 2009 Unless one studies the market full-time' date=' buying and selling of timing the market doesn't work for me. I am in the long run meaning another 15 years until retirement kicks in.. In ten years, I will look again in seeing how IBM, CISCO, MSFT, J&J, etc and either get out completely or not... Unless you are W. Buffet, the average Joe who thinks he knows how to outfox the market is more apt to lose than gain when playing the timing game... CB [/quote'] That is bullshit and is just what financial advisors want you to believe. "you can't time the markets and in the long run stocks have always gone up, blah blah blah" In other words, don't try and take control of your own money, let us do it, keep paying us big commissions and in return we will lose most of your money, blame it on the markets and ask you for more, convincing you that now is the best time to invest. I have been investing for the last twenty years and since losing money in the first five years by listening to asshole financial advisors I have taken control myself and have made minimal losses compared to big gains by timing the market both ways, long and short. And consider this. When you said, "Unless you are W. Buffet, the average Joe who thinks he knows how to outfox the market is more apt to lose than gain when playing the timing game" Did you really have to be Warren Buffet to see how the markets would collapse after the banking crisis and even well before when countless experts where predicting it. Do you really have to be Warren Buffet to know what the average length of a bull market is and how it is always followed by a bear market? The big problem with people timing the market is that are too fecking greedy and stay in too long thinking times will not change. When you have made a good profit, take it and get out, don't just wait until the stock markets collapse. If you do wait too long, then get out at the first signs, don't just act like a deer caught in headlights. Of course, if you let some nice financial advisor manage your money, you have much less chance of getting out without suffering big losses because he will have structured your portfolio in a way that makes it easy to get money in but penalises you for getting it out. In short, don't believe these bullshit cliches that you can't time the market and it is better to stay in for the long term and keep paying nice Mr Financial Advisor his commissions. I tend to agree with you...for example, if you got into Nikkei 225 20 yrs ago when it was 39,000, your investment would be worth only about 25% now, less if you account for inflation. The stock market could stay depressed in the USA for many years. Link to comment Share on other sites More sharing options...
BelgianBoy Posted September 4, 2009 Report Share Posted September 4, 2009 If what Munchie says, and you watch the financial markets all day, I'll pass. I value my time more than that. Maybe so, but then you dont value your money..... Most of what Teddie wrote is correct, I would add by saying you need common sense. Listen to others, learn the game. At the end it is your money. BB Link to comment Share on other sites More sharing options...
teddy Posted September 4, 2009 Report Share Posted September 4, 2009 If what Munchie says, and you watch the financial markets all day, I'll pass. I value my time more than that. You value your time do you? So, you probably work say, 40 hours, 50 hours per week? You make your money but you are not prepared to put in another 3 or 4 hours a week in order to manage, protect and grow your hard earned money by keeping an eye on the financial markets? Seems as BB pointed out that you don't value your money at all, ergo you don't value the time you spent making the money. with reagards to Munchies claim that I watch the financial markets all day, that is bollocks. I read the Financial Times over breakfast in the morning and I may sometimes have CNBC on when I am working but I don't sit there watching all day, far from it. Link to comment Share on other sites More sharing options...
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