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So the U.S. stock market is taking a big beating again (pg. 5)
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| MrJiveBoJingles |
The S&P 500 is now at its lowest value in the past eleven and a half years: it hasn't been this low since 1997.
752.44 closing value. |
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| Sunsnail |
| I've lost 59% of my portfolio |
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| MrJiveBoJingles |
"The number of Americans who applied for unemployment benefits for the first time hit a 16-year high last week, pushing the rolling herd of jobless citizens receiving this type of government aid to its highest level in 26 years."
http://www.forbes.com/home/2008/11/...9markets08.html |
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| Krypton |
| The prices in the market are once in a lifetime opportunities to buy at extremely low prices. Just wait when the economy recovers. The farther it falls, the higher the potential returns on the upside. The Dow reached 14,000 last year. That just shows you the potential of the next boom cycle. |
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| fbgdavidson |
| quote: | Originally posted by Krypton
The prices in the market are once in a lifetime opportunities to buy at extremely low prices. Just wait when the economy recovers. The farther it falls, the higher the potential returns on the upside. The Dow reached 14,000 last year. That just shows you the potential of the next boom cycle. |
Indeed. That's my view, although was that 13,000-14,000 ^DJI figure artificially inflated?
I suspect the average TAer is in their mid twenties, this really is a good time to invest or at least starting to drip feed some cash into the market, especially if you'd got a decent cash position. We're able to weather the worst of this shoddy market and watch a small amount of money do exceptionally well over the next few years.
I'm nursing pretty serious wounds in the short term but I'm hoping there will be a nice amount of green on the horizon in the not too distant future. |
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| Krypton |
| quote: | Originally posted by fbgdavidson
Indeed. That's my view, although was that 13,000-14,000 ^DJI figure artificially inflated?
I suspect the average TAer is in their mid twenties, this really is a good time to invest or at least starting to drip feed some cash into the market, especially if you'd got a decent cash position. We're able to weather the worst of this shoddy market and watch a small amount of money do exceptionally well over the next few years.
I'm nursing pretty serious wounds in the short term but I'm hoping there will be a nice amount of green on the horizon in the not too distant future. |
No doubt it was inflated, but in my opinion, that just indicates where the Dow could go, and is likely to go in the future, as the market has always up trended over the long term. I'm not even sweating this market cycle. Whatever money I've got, I'm investing in high quality companies, which are trading at substantially under priced quotes. |
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| fbgdavidson |
| quote: | Originally posted by Krypton
No doubt it was inflated, but in my opinion, that just indicates where the Dow could go, and is likely to go in the future, as the market has always up trended over the long term. |
Indeed.
The S&P500 went from 1500 to 800 between Mar '00 and Oct '02, it then took until early '07 to get back to 1500pt territory.
If you (the royal 'you' as opposed to Krypton) are diversified enough you've just got to stick it out for a few years hoping not too many companies you hold positions in disappear and all will be right with the world again... |
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| Krypton |
For anyone interested, I just finished my third quarter stock analysis. It entails my personal watchlist, a few requests by fellow TA's, and the Dow Jones Industrial stocks (AA-XOM).
I've got an interview tomorrow at AG Edwards, so this should impress the hell out of them. |
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| fbgdavidson |
| quote: | Originally posted by Krypton
I've got an interview tomorrow at AG Edwards, so this should impress the hell out of them. |
You mean Wachovia Securities :p
You've got a personal message. |
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| Krypton |
| quote: | Originally posted by fbgdavidson
You mean Wachovia Securities :p
You've got a personal message. |
Haha, yea, I realized that when I walked through the door. Wachovia bought out AG Edwards, and now Wachovia is merging with Wells Fargo. I think I nailed it! Haha. It was a great interview. I got back tomorrow to fill out some papers. tt, I'm gonna be working for Wachovia Securities. My resume is gonna be so nasty!:D :D |
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| squirrelly |
Wasn't it you who made a huge thread about some job interview you had, and how it was going to be the most pimp job ever - before you had the job?
I'm taking it that since you're still interviewing, you didn't get it? |
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| Krypton |
| quote: | Originally posted by squirrelly
Wasn't it you who made a huge thread about some job interview you had, and how it was going to be the most pimp job ever - before you had the job?
I'm taking it that since you're still interviewing, you didn't get it? |
Yea, that was with the Federal Reserve. That would be my number 1 choice. I was told they are taking their time to hire a research assistant. I don't have time to wait until they feel like hiring somebody. So I moved on. |
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