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10-09-2008, 05:07 AM | #2 |
Shaken. Not stirred.
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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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10-09-2008, 05:57 AM | #3 |
Rockin' yer FACE OFF!
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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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10-09-2008, 06:28 AM | #4 |
Stop saying "This."
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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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10-09-2008, 06:41 AM | #5 |
Supporter
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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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10-09-2008, 07:12 AM | #6 |
MVP
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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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10-09-2008, 08:32 AM | #7 |
NFL's #1 Ermines Fan
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The only reason I'm not jumping out my window right now is that I can't figure out how to open it.
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10-09-2008, 09:34 AM | #8 |
Free Born Man of the USA
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Be fearful when others are greedy, be greedy when others are fearful.
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