I have also been keeping a close eye on aapl...just curious, why do you predict apple will continue to drop? Also, what do you think about rimm (blackberry maker)? It looks like a good time to jump in with prices at a 52 week low...
I have resisted it for 19 pages... but the thread title reminds me of that video gaming commercial where one of the game titles in the rental store is "Let's Count Sand" and the guy responds... "Let's not." Carry on.
Markets - Where is the bottom? For a layperson like me, I am curious to know what some of the financial whizes around here think about the bottom of this ...well...crash. What has to happen for banks to loosen up their credit lines and get the world moving again. Right now, this is choking off the entire planet's economy and threatens to toss all of the world into a recession- something we are arguably in already. Has anyone pulled out of the market, if so, why? And if not, why? I am curious what our resident financial folks think. Thanks in advance. DD
Peter Schiff, professional pessimist who predicted the crash with scary accuracy, predicts that some time in the next decade, the Dow will be worth the same nominally as an ounce of gold.
My business partner is a financial wizard. He told me about 6-8 months ago that this was coming and he felt the bottom was 8500. We'll rename our firm to include Nostradamus in the title if he's correct.
Right now we are at a stage where its too early to buy in and too late to sell out so for those thats holding stocks....most likely they will keep holding for a while for those thats thinking about investing, invest in cash at least in Australia we are enjoying 7% interest (US is probably much lower I presume?) the bailout is going to provide temporary relief, but the bigger problem is the economy The entire world economy is slowing down -> decreasing demand -> slowing down china's economy (the only thing that was holding up) -> further decrease demand I think it might be a few years before the stock market is giong to rebound, if you are thinking of buying defensive stocks, why bother? just hold cash. Maybe invest in gold, gold price will continue to go up as people become more weary of holding cash.
1. i think there are good buys out there right now. 2. depends on what you mean by "rebound." you mean get back to where we were?? then yeah you're right....before it starts tracking up again?? i actually think that's gonna start happening sooner rather than later.
I basically owned the same set of stocks/funds since 2004. My current plan is to re-balance every other year, with the next time being January 2009. I am a buy-and-hold investor. The goal for most of my investment dollars is retirement which is 15+ years away. By then, 2007/2008 will be just a very unpleasant and distant memory. For all you investment newbies, this is a great time for long term investing. All of your 401K/IRA investment monies are now "buying low". This is the time to max out your IRA and at least contribute to your 401K to get your company's match.
Well, at least he did way better than Henry Paulson who just a few weeks ago was still saying the economy was strong and sound.
If anybody really knew when the market was going to bottom out, that person would be mega rich in a few years. Professional money managers (you know the guys who have Wharton MBAs, run billion dollar plus mutual funds, and have seven figure slaries) have a tough time calling the tops and bottoms of markets. The people on this board who have less experience and less first hand knowledge, methinks, would have an even tougher time calling it.
Well, opinions are like a-holes, everyone has them...I tend to think it'll be in the low to mid 8000 range...My boss thinks, based on his regression analysis, that it'll be in the mid to high 7000 range... Hell, Suze O thought it would be in the 8000 range as well...Who knows, but I think if it gets in the 7000-8000 range, that's the perfect time to buy, IMHO...
I feel like we have moved from panic selling mode into confusion and distrust mode. The market has been so volatile, so violent and so unpredictable over the past week that even the most seasoned investors are too wary to put their money into anything, for fear of getting burned yet again. So we're in that weird situation where we need a rally to get things back to normal because we sold off too hard and too fast, but at the same time a lot of people feel like the last shoe hasn't dropped yet. I personally ... I'm weary. I want it over with. Flush out the remaining crap in the system and let's get back to normal, please.
You can't get hurt on a roller-coaster unless you jump off... I read a quote from Sam Walton somewhere where, on a day where Walmart stock took a huge dive, someone asked him how it felt to lose so much money. He said he didn't lose any money.
Unless the roller coaster crashes into the ground (WaMu) or it plunges deep into the abyss and it's way past your dinner time.
pulling out is the worst thing you could do right now. Patience is a virtue and will be reworded. If you have some expendable funds, i would look into buying. There are two bottoms: the real bottom and the perceived. I think we are getting close to the "real" bottom...the 8500 is a pretty good estimate, but i think it could be a bit higher. The perceived bottom is a whole other story...when people start to panic and do irrational things then thats when you get into dangerous territory.
