Yes this sucks royally! Seth you just might get me to buy PSEC now since there was a trade below $6 today OUCH!!!!!!!!!!!!!!! Dividend yield is over 20% now on that bad boy. All I can say is thank God I sold off my 2,000 shares of WFC at $39 and $37.50 since it's back down to $26 today... sheesh, timed that one perfect.
^^^ That's a healthy way to look at it, but unfortunately there is the distinct possibility that we slip into the shoes of Japan for awhile. They're stock market corrected something like 80% over a decade. It's still lower than it was over a decade ago.
There's only one uncancelled stock certificate I own (and only because my uncle gave it to me)...some Virginia Coal Corporation or something like that (I'd have to look at it to see what exactly it is). It's so old...I bet the company went under during the Depression (the stock certificate is dated 1929).
As for the stock market crashing...all I can really say one way or the other, and that really only to a few certain people locally, is a good old-fashioned "I told you so." Ever since the Dow originally hit 12,000 (which was what, 2-3 years ago?), I knew the bubble was going to burst, and that it was going to be a global occurrence. I have not invested one red cent in the stock market, and I'm quite glad such is the case (though I won't lie, I did think about it for a while back when I was in high school and college, about 5-8 years ago). Also, to be completely honest, I don't believe 8400-something will be the bottom for the DJIA, though I'm unsure of when the bottom *will* be. And did you guys hear of the 2nd stimulus package they're trying to pass? I think they're *trying* to pour salt in an open wound... It's a sickening concept, to me. I'd say if you can't afford it, save it for later and don't spend it. Either that or invest it in gold...anyone see what gold is up to lately?
^^^ You can't get much lower without stocks trading for less than the book value of some companies.
Btw, gold is a terrible investment strategy. It has not outpaced the stock market in the long haul. In fact it's worth less right now in real terms than it was in the 80's. By all means, have a small contingent on hand for if the shit hits the fan, but it's just metal, and the intrinsic value of it disappears when people really only need food and water.
The only thing thats really hurting me is how the US dollar is starting to go down (although its gone up in the last week for some reason, compared to the Canadian dollar). A few years ago I bought a $10,000 GIC, in US dollars. I don't think I can get it out until this May. I'm hoping she stands until then
^^^ You can't get much lower without stocks trading for less than the book value of some companies.
Btw, gold is a terrible investment strategy. It has not outpaced the stock market in the long haul. In fact it's worth less right now in real terms than it was in the 80's. By all means, have a small contingent on hand for if the shit hits the fan, but it's just metal, and the intrinsic value of it disappears when people really only need food and water.
lol yep I'm with Colbert on this - it's time to invest in Campbell's stock. Which apparently comes in little "shares" of 8oz condensed.
Hahaha...hoarding physical cash is about the dumbest thing you can do. In the worst case scenario the government is capable of making those greenbacks worth less than toilet paper.
Fitty, you need to educate yourself a little better on the banking system. Every year you keep that cash it's worth 2-5% less, guaranteed. At least in a bank you can narrow the spread.
ride the wave its bad right now but without getting into the whole politics mess depending on what the next president does or doesn't do the markets should start turning around in 09 if things don't improve for 5 or so years and only get worse guess Ill be hoarding boxes and water sealent and start a thread on the NA box camp with generators for video games
If the market keeps sucking, I'll be working somewhere counting down untill I have enough for a plane ticket....If gas isn't $50 a gallon by that time.
Comments
NES > Stocks
Certainly a safer investment
~~NGD
Hopefully that won't be us!
As for the stock market crashing...all I can really say one way or the other, and that really only to a few certain people locally, is a good old-fashioned "I told you so." Ever since the Dow originally hit 12,000 (which was what, 2-3 years ago?), I knew the bubble was going to burst, and that it was going to be a global occurrence. I have not invested one red cent in the stock market, and I'm quite glad such is the case (though I won't lie, I did think about it for a while back when I was in high school and college, about 5-8 years ago). Also, to be completely honest, I don't believe 8400-something will be the bottom for the DJIA, though I'm unsure of when the bottom *will* be. And did you guys hear of the 2nd stimulus package they're trying to pass? I think they're *trying* to pour salt in an open wound... It's a sickening concept, to me. I'd say if you can't afford it, save it for later and don't spend it. Either that or invest it in gold...anyone see what gold is up to lately?
Btw, gold is a terrible investment strategy. It has not outpaced the stock market in the long haul. In fact it's worth less right now in real terms than it was in the 80's. By all means, have a small contingent on hand for if the shit hits the fan, but it's just metal, and the intrinsic value of it disappears when people really only need food and water.
^^^ You can't get much lower without stocks trading for less than the book value of some companies.
Btw, gold is a terrible investment strategy. It has not outpaced the stock market in the long haul. In fact it's worth less right now in real terms than it was in the 80's. By all means, have a small contingent on hand for if the shit hits the fan, but it's just metal, and the intrinsic value of it disappears when people really only need food and water.
lol yep I'm with Colbert on this - it's time to invest in Campbell's stock. Which apparently comes in little "shares" of 8oz condensed.
And the best palce for your money is in your wallet. I`ll never use a bank, only for my single credit card.....
Fitty, you need to educate yourself a little better on the banking system. Every year you keep that cash it's worth 2-5% less, guaranteed. At least in a bank you can narrow the spread.
And I'll a bet that it'll be under 8K next market closing. If we don't start limiting importaing and selling more, Nothings going to happen but this.