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Well, my stocks have tanked

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  • October 10, 2008 at 6:32 pm #1308
    Phidippides
    Keymaster

    It's unfortunate that we're experiencing this historic collapse.  Actually, I think it's more of a nasty “correction” than a collapse.  It's no Great Depression, not with much lower unemployment rate compared to the 1930s.  My stocks have hit the ropes recently which upsets me, but I realize they'll come back sooner or later.  The domino effect that the U.S. economy's woes have on the rest of the world is illustrative of the global nature of markets.  Funny but the nations that will be least affected will be those who haven't really "plugged in" to the global economy to a high degree.  I'm sure that China will be affected due to the large foreign investments there that makes its economy run.

    October 10, 2008 at 10:05 pm #13485
    skiguy
    Moderator

    I'm too scared to look at mine.  😮

    Funny but the nations that will be least affected will be those who haven't really "plugged in" to the global economy to a high degree.

    But aren't they not rich to begin with?

    October 10, 2008 at 10:59 pm #13486
    Phidippides
    Keymaster

    Yeah, those are the countries that don't gain much or lose much (or “as much”) from global catastrophes.  All nations are inter-connected to some degree.BTW take a look at Exxon over the last few days, of which I am a shareholder:[html][/html]

    October 10, 2008 at 11:09 pm #13487
    DonaldBaker
    Participant

    I don't buy stocks and I cashed in my 401K from Merrill Lynch last month before they were bought out. 🙂

    October 10, 2008 at 11:15 pm #13488
    Phidippides
    Keymaster

    I don't buy stocks and I cashed in my 401K from Merrill Lynch last month before they were bought out. 🙂

    Rub it in, rub it in.  😉Actually, if you did start buying stocks about now (around the bottom) you could set yourself up very nicely.

    October 10, 2008 at 11:23 pm #13489
    skiguy
    Moderator

    I find that Exxon graphic highly offensive.  Please delete it.

    October 11, 2008 at 12:48 am #13490
    H.H. Buggfuzz
    Participant

    I am doubly lucky. I have both GM and Exxon.  Anyway I plan to just sit steady in the boat and maybe I will live long enough to see a rebound

    October 11, 2008 at 12:55 am #13491
    Stumpfoot
    Participant

    I have a janitorial business. One of my accounts is a GM dealer in Bend and I got the dreaded call about an hour ago saying they couldnt afford it anymore. Norm (the owner) is a friend of mine and he said they are cutting to the bone. From the owner on down everyone is taking a paycut or by next June there will be no dealership. It stinks because that account constituted about a third of our income.Arnt Ford and GM stocks almost down to being penny stocks? Ford was almost down to 2 bucks a share I think. I fyou do by now and they rebound you will make a tidy sum. Norm Told me that GM is doing great around the world but is tanking here in the U,S,

    October 11, 2008 at 7:11 am #13492
    Phidippides
    Keymaster

    So hows the dealership going to get cleaned from now on? 

    October 11, 2008 at 7:13 am #13493
    Stumpfoot
    Participant

    They are going to do it themselves….There going to miss us. :'( :'( :'(

    October 12, 2008 at 1:23 pm #13494
    scout1067
    Participant

    I am afraid to look at my portfolio.  Last time I did, about three weeks ago, I was down almost $20,000 on the year.  I have since decided that i am not going to look again until about 10 years before I retire.  Surely the market will come back up by then.

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