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Old 10-09-2008, 01:09 AM  
TinyEvel TinyEvel is offline
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STOCKS: Is it really that bad?

I'll tell you about the first time I got into the stock market.

I had just been married. My wife and I were renting a one-bedroom apartment in a so-so part of town and both working mid-level career jobs. We were making above-average wages and were saving a decent amount of money in hopes to buy a home within two years.
The stock market was rising rapidly. We were in the middle of the dot-com "gold rush" and I was anxious to get my own share of the "free money" that was flowing into my friends' online accounts.

I told my wife, "Let's just put one-third of our savings into the market, it will turn into...like...TRIPLE that within a year and then we'll pull it out."

She trusted that I knew what I was doing and so I opened our DATEK online trading account with $10,000 opening balance.

The date was January 12, 2000.

If you know anything about the stock market, that was two days before the Dow Jones hit its highest point in history, and pretty much the top of a steep, downward slope. By June of that year, my online account was worth about $130.

By the time I finally decided to close the account and sell off the 1500 shares of the online casino stock I had purchased over the OTCBB, the price of the sale was not even enough to cover the site's transaction fee.

To me, it seemed like there was no hope for the future, at all. I felt like a complete sucker.

But that was just a unique unusual time, and I lost a lot less than most of my friends who had put a lot more money into their accounts. So, looking at the market now, and comparing this time to that (even though we don't know what the next few months holds) I'd say its not like we're going to lose it all, just lose some (I know that doesn't make it better right now, but you only realize the loss if/when you cash it out. Hold on and it will grow again).

Just look at this 20-year NASDAQ chart, the market grew back quite a bit from Jan. 2000. And who's to say we'll ever se that kind of frenzy/dip again?


http://finance.yahoo.com/echarts?s=%5EIXIC#chart2:symbol=^ixic;range=my;indicator=volume;charttype=line;crosshair=on;ohlcvalu es=0;logscale=on;source=undefined
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Old 10-09-2008, 05:07 AM   #2
Guru Guru is offline
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I won't mess with individual stocks. Too risky. Go with mid level conservative mutual funds at this point in your life. You have to be willing to go with the long term though. Especially right now when the market is at its lowest point in years. Will get worse before it gets better but when you buy low it pays off later.

Highly recommend you get a financial advisor though.
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Old 10-09-2008, 05:57 AM   #3
InChiefsHell InChiefsHell is offline
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This really only sucks hard for the poor folks who are retiring within the next few years, their 401k's and other stock investments have taken quite a hit that they will not recover from in time for retirement. I on the other hand have a good 25 years left in the workforce, so I'll be leaving my money alone...that way it will grow and grow so that the next time the market takes a huge crap, I'll lose a much more substantial amount of money and I'll still be able to bitch about it...
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Old 10-09-2008, 06:28 AM   #4
triple triple is offline
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i don't do individual stocks in my retirement portfolio in any significant amount. i have a 'play' account where i do things like that, in an account that my retirement isn't bet on.
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Old 10-09-2008, 06:41 AM   #5
HemiEd HemiEd is offline
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Well said TinyEvel, I remember that time well. My broker talked me into buying a few hundred shares of "Doubleclick" at the time, for $50 a share. I am not sure if it is stil around, I bailed $15 I think. I still have the remnents of another dandy, HIET, High Energy Technology. It is .0006 per share now I think.
I finally got clear out of individual stocks last year, prior to the Election driven crisis. I went really conservative on my 401k at the same time, and it has still taken quite a hit.
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Old 10-09-2008, 07:12 AM   #6
jidar jidar is offline
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Yeah. The market always prevails... or it always has in the past.

Although there is a reason to be concerned. We're leaving the age of cheap oil and moving into one where energy is more costly. This is a change to a fundamental aspect of the world economic system, and I don't believe that we can say "the market always wins in the long term" with the degree of confidence we have in the past. Look at today, here we are almost nine years later and even if you had stuck that $10k into a mutual fund, you'd still be down.

But... the market always wins in the long term... hopefully.
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Old 10-09-2008, 08:32 AM   #7
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Old 10-09-2008, 09:34 AM   #8
beavis beavis is offline
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