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US Economy in CRISIS! (pg. 15)
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| malek |
| geez 100 billions sounded enormeous in that movie... now it's chump change. |
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| Skipper |
TSX was down over 1100 points this morning but has since rebounded...down ONLY 730points.
Just unreal. First the market screams because the bailout doesn't pass, now it's passed and it's screaming again.
I guess this would be a good time to pick up some stocks though - there are a lot of absolute bargains out there. |
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| malek |
| it's time to close the exchanges for a day or two, send all those traders home to chill the out. |
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| exstasie |
| quote: | Originally posted by Skipper
TSX was down over 1100 points this morning but has since rebounded...down ONLY 730points.
Just unreal. First the market screams because the bailout doesn't pass, now it's passed and it's screaming again.
I guess this would be a good time to pick up some stocks though - there are a lot of absolute bargains out there. |
Any good Suggestions?
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| Skipper |
I don't believe I can make any suggestions due to regulatory reasons...not on the internet anyways. ;)
Things I would be looking for right now: strong cash position (or very little debt, at a minimum), does not need significant capital to maintain operations or follow through on growth plans within the next year, little exposure to anything related to U.S. housing and a low P/E relative to comparables. (Relative being key - everything has a crazy low multiple right now)
There are a lot of businesses that won't make it through the credit crunch or are too dependent on the US consumer. Looking for companies with diversified revenue streams across different markets is a good idea. |
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| slingshot |
| This is f$%^ing insane. A 4 digit loss in the TSX?!?!? |
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| Pett |
| wow, hopefully no jumpers on bay st! |
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| StereoPrincess |
so i watch my RRSP investments plumment in the last few months.
i feel horrible for people that actually have to retire right now. |
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| Skipper |
| quote: | Originally posted by StereoPrincess
so i watch my RRSP investments plumment in the last few months.
i feel horrible for people that actually have to retire right now. |
Me too.
But if you are retiring and were holding a significant portion of your portfolio in equities up to the date of retirement, your financial planner ought to be fired.
It's pretty historic out there right now. When was the last time the TSX regularly lost and gained hundreds of points in the space of an hour or two?! |
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| exstasie |
| quote: | Originally posted by StereoPrincess
so i watch my RRSP investments plumment in the last few months.
i feel horrible for people that actually have to retire right now. |
I just checked my RRSP account for the first time in 2 weeks...lol
Not as bad as I thought though lol
Only down 16% since July...
But yeah. I'm very thankful that I have another 40+ years before I need to retire!
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| StereoPrincess |
| quote: | Originally posted by Skipper
Me too.
But if you are retiring and were holding a significant portion of your portfolio in equities up to the date of retirement, your financial planner ought to be fired.
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many people probably were transferring slowly to more secure investments. but some people expect their income in retirement to be coming from some of the riskier investments. let's hope lots of planning was going on. |
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| Skipper |
| quote: | Originally posted by StereoPrincess
but some people expect their income in retirement to be coming from some of the riskier investments. |
Really? I don't understand that...why not park it in a dividend paying stock or a trust? (ignoring trust conversion legislation in the short term)
If you're going to play with risky assets in retirement, you should know exactly what the risks are - mainly, losing a ton of money at the drop of a hat. |
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