Shark 0 #1 July 22, 2002 The Economy: an oxymoron, don't you think? Any thoughts on the REAL world and current events?? Quote Share this post Link to post Share on other sites
fasterfaller 0 #2 July 22, 2002 The economy , what a joke . I am glad I got out of the market after oil went up just over three years ago . The sad thing is that corporate America is fucking the investors out of their retirements and they will get away with it . Quote Share this post Link to post Share on other sites
PhillyKev 0 #3 July 22, 2002 Unless you're planning to retire in the next 10 years, I doubt you've been screwed. Personally, I'm waiting for a nice day of panic selling that drops the market like crazy so I can buy buy buy. Yeah, some companies have screwed investors by lying and cheating. But the majority of declines in the market are due to overpriced stock. If people blindly put money into a bloated market just because it seemed like the thing to do, without doing any research or having any knowledge as to what they're doing, well, that's just dumb. How many people think G W's idea of getting rid of social security and letting people invest their money on their own is still a good idea? Quote Share this post Link to post Share on other sites
fasterfaller 0 #4 July 22, 2002 I just feel sorry for the people that are retired at this time and have lost their ass on their investments . I know a few people that have had to go back to work to make it . To the serious investor it is now a buying opportunity . Quote Share this post Link to post Share on other sites
Scoby 0 #5 July 22, 2002 I'm still looking for a bottom, but I'm actually seeing this market as a buying opportunity. I haven't wanted to invest in stocks, as I didn't want to buy into what I percieved to be an inflated market. My interest is now piqued, however. I think I'm going to invest largely in index funds, with a smaller amount on the side for trading (which, more or less, is gambling). I have 40+ years until retirement (if I actually retire) and I believe stocks will prove to be the correct investment over that period. That said, it has to hurt to be close to retirement right now... Quote Share this post Link to post Share on other sites
scottbre 0 #6 July 22, 2002 QuoteHow many people think G W's idea of getting rid of social security and letting people invest their money on their own is still a good idea? I do. "Your mother's full of stupidjuice!" My Art Project Quote Share this post Link to post Share on other sites
Shark 0 #7 July 22, 2002 QuotePersonally, I'm waiting for a nice day of panic selling that drops the market like crazy so I can buy buy buy. Don't wait... QuoteTo the serious investor it is now a buying opportunity . absolutely. QuoteI'm still looking for a bottom, but I'm actually seeing this market as a buying opportunity. Technically we may be there. Possibly another 2-3% prompted by fear. Anyway, it sucks and we'll have to deal with it. Look forward to the weekend at the DZ whether you are jumping or just hanging out.And please send any donations to the Shark Fund at Elsinore. Thanks for the comments... just wanted to get a little feedback on how you guys feel about what's been going on. Thanks. Quote Share this post Link to post Share on other sites
Scoby 0 #8 July 23, 2002 I think even if we see a bottom, we'll be in a long term bear market. Which is OK by me, as low prices means I can create a strong position for a future bull market. I've been sitting out the past couple of years, so I'm feeling fine about everything. It sucks to see other people hurt, though. Quote Share this post Link to post Share on other sites
freeflir29 0 #9 July 23, 2002 I hope we are near the bottom right now. I was guessing about 7500 on the Dow for it to correct. Hopefully we won't go any lower..... Quote Share this post Link to post Share on other sites
skymut 0 #10 July 23, 2002 Can any of you guys give a 'market' newbie some advice/direction? Both my wife and I invest in a teacher retirement system, which for now, seems solid. We have finally cleared room in our budget to start doing other 'investing'. Problem is, neither of us knows much about it, and for obvious reasons, don't want to walk to some broker and say "here's our money, make it grow" (although I wish it were that easy). Thoughts? Matt A well-informed person is somebody who has the same views and opinions as yours. Quote Share this post Link to post Share on other sites
Shark 0 #11 July 23, 2002 QuoteCan any of you guys give a 'market' newbie some advice/direction? Both my wife and I invest in a teacher retirement system, which for now, seems solid. We have finally cleared room in our budget to start doing other 'investing'. Problem is, neither of us knows much about it, and for obvious reasons, don't want to walk to some broker and say "here's our money, make it grow" (although I wish it were that easy). Thoughts? Get a referral from some of your friends. At least you can get an idea how the adviser does business. Other than that, you may want to make an appointment with a few brokers. Ideally you would want to talk with someone who has a lot of experience. ie. one who has seen the market over the years. The only problem is that he will only deal with High Net Worth clients and prospects. I'd stay away from the lesser known firms since many lack the experience and may try and push the "hot dot." If you have a tax advisor, see if he as a financial planner he can refer. Ask what Mutual Funds they recommend and how they would do an Asset Allocation. Hope this helps, Mark Quote Share this post Link to post Share on other sites
PhillyKev 0 #12 July 23, 2002 Here's a couple of basics for solid retirement investment. Go with no load/low fee mutual funds (e.g. Vanguard). Diversify across industries, markets, and geographies. Take advantage of dollar cost averaging. In other words, invest a little on a frequent basis instead of a lot at once. I'm not a financial guy, but I work for a couple of the most respected fund managers in the country. They sat down with me and helped me put together a portfolio of Vanguard funds. If you want specifics, message me. Vanguard really is the best way to go for the novice. You won't find lower fees, and most fees charged go back into the fund itself. There's a huge selection of funds to choose from as well. These are all index funds, so you don't get active management, but you also don't get the fees associated with that which usually wipe out (or worse) any advantage that may give you. This methodology isn't a get rich quick, but built for a long term investment (15+ years) that you're going to dump money into and forget about. Just rebalance once a year but ignore any other ups and downs. Quote Share this post Link to post Share on other sites
jfields 0 #13 July 23, 2002 Info for investing newbies: Head to www.fool.com and read what the Motley Fool has to say. It is a good site, and you should start in "The Fool School". When in doubt, go with an index. Most mutual funds can't beat the S&P 500, so unless you are confident in your stock/fund picking ability, just go with an index and you will be in the market, without much of the work. If you want more info/advice (on starting out, not stock tips), e-mail me. Quote Share this post Link to post Share on other sites
skymut 0 #14 July 23, 2002 Thanks for the info. I will email you for getting started after I have time to soak in the site you posted. Thanks for the 911, and to Shark as well. Matt A well-informed person is somebody who has the same views and opinions as yours. Quote Share this post Link to post Share on other sites
jceman 1 #15 July 23, 2002 Quote Thanks for the 911, and to Shark as well. Dude, don't you mean 411? 911 has two distinct meanings, neither of which would seem to be too comforting. Faster horses, younger women, older whiskey, more money. Why do they call it "Tourist Season" if we can't shoot them? Quote Share this post Link to post Share on other sites
skyhawk 2 #16 July 24, 2002 yer looking from the outside i find it slightly odd how everyone is bailing out as if all of the businesses are closing down or somethen.i guess its prob cause they all hopped in thinken that it would be a get rich quick thing saw all there stocks skyrocket then drop so they think its the end the way i see it unless you buy then sell soon after (which i understand is highly disliked by ppl and resulting in firms not doing business with you) then it doesnt really matter it will recover its is real funny cause you keep hearing oh no its fallen to levels not seen since 98 come on that was 4 years ago and it obvously recovered , if they said levels not seen since the great depression then mayby id be having a second look. my advice like everyone else do your homework it amazes me how many people have shares and dont know squat about the companys, someone just told them to buy them. if it looks to good to be true it prob is, if after doen your homework it still looks legit then invest as much as you can afford(to lose) if it stuffs up youve planned for it if it works youve made some extra money. as most ppl have said diversify not ust across companys but industries, one eg is oil companies, someone could invent a constant free energy machine tommorow which would mean while oil would still be required(for things like plastics etc) they wont have anywhere near the same massive profits if your investing for your retirment then think for the future think about where will this company be at around the year(whenever you plan to retire) will its product still be required, have / are they planning for the future and changing to match the needs fiquire out what type of portfolio you want high returns/high risk, mid returns/mid risk low returns/low risk if you are going to invest any money that you cant afford then go and see a proper invester it is better to spend the extra money but remember never to take anybodys word for it allways do your own homework Quote Share this post Link to post Share on other sites
bmcd308 0 #17 July 24, 2002 QuoteHow many people think G W's idea of getting rid of social security and letting people invest their money on their own is still a good idea? It is still a stellar idea, and it is by no means original to GW. ---------------------------------- www.jumpelvis.com Quote Share this post Link to post Share on other sites
PhillyKev 0 #18 July 24, 2002 Yes, for informed individuals, it's a great idea. But sociologically, it would mean lots of people chowing down on cat food during their retirement b/c they don't know how to invest or that they should move to less risky investments as they near retirement. Quote Share this post Link to post Share on other sites
GrumpySmurf 0 #19 July 24, 2002 Ditto Considering as temporary resident alien, I am not eligible to collect SS - but still have to pay into it - I figure I should be able to have some fun with what I am contributing, rather the pouring it into the largest Money Pyramid Scheme in the country. Quote Share this post Link to post Share on other sites
CanuckInUSA 0 #20 July 24, 2002 Grumpy Canada and the USA have an agreement between the two governments for people like ourselves. While we won't be able to collect the US Social Security with our temporary alien resident status, our payments into the system will be factored into the Canadian Old Age Security system and we'll be able to collect it in Canada. Of course that under the assumption that there will even be money in the system by the time we retire. Try not to worry about the things you have no control over Quote Share this post Link to post Share on other sites
GrumpySmurf 0 #21 July 24, 2002 Considering what they have taken out of me thus far - I'll be sitting pretty in Canada - Maybe even buy Quebec the next time they post it on E-Bay "We're down with CPP, yeah you know me!" Quote Share this post Link to post Share on other sites
Scoby 0 #22 July 24, 2002 As a resident alien, I shouldn't get social security either, despite paying into it. However, I get mailings from SS about the benefits I'll get when I retire. I also get jury summons. I think that somewhere in the government databases, they must think that I'm a citizen. Maybe I should apply for a US passport and see what happens? Actually, I should probably just get off my butt and become a citizen. Quote Share this post Link to post Share on other sites
Shark 0 #23 July 24, 2002 QuoteActually, I should probably just get off my butt and become a citizen. ...ya, see the other post and marry an rw or ff chick and become a citizen. Quote Share this post Link to post Share on other sites