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Talking stocks, trading, and investing in general - Page 577

post #8641 of 11163
musicboohoo[1].gif
post #8642 of 11163
Quote:
Originally Posted by tropics View Post


does anyone have a gif or some kind of image of a tiny violin?


How are my woes any different from that of a person lamenting disruption in career path goals due to their company unexpectedly going under?

post #8643 of 11163
It's aggravating, but I think a dose of reality is needed.....the dow is at 16,500.....look at that in a time line of longer than 1-2 years and I think it'll put you in perspective.

So you miss your 30 year old number....so what, investing at lower prices over a lifetime is better than investing at higher prices.
post #8644 of 11163
Quote:
Originally Posted by GreenFrog View Post


What I'm freaked out about is I'm not going to hit my personal wealth goals I set for myself by age 30 if I'm hit with a fat bear market paw in the face starting, well, now.

It would delay my goals by fucking several years.

Oh please, mother fucker. I was still doing my undergrad, valet parking cars at lunch, and working a fucking door in downtown Detroit Thurs-Sat at 30. I was driving a bare balls Ford Ranger. Get the fuck over yourself.

Edit: You know I inlove.gif you so take it as intended.
post #8645 of 11163

I'm sensing some hostility.

 

Calm down guys. Everyone's situation is different.

 

Personally I don't want to be living in a 2x2 box in NYC in the next 15 years, I want at least a 6x6 box with a window that I can fit some kids into.

 

My investment performance is a somewhat critical component of that goal. Cut some slack to GF, no one enjoys losing money.

 

GF, realize this is temporary and hopefully not too expensive of a lesson in risk tolerance.

post #8646 of 11163
Quote:
Originally Posted by GreenFrog View Post


How are my woes any different from that of a person lamenting disruption in career path goals due to their company unexpectedly going under?

This guy is unemployed and might struggle to put food on the table. Your situation is I wasn't as rich as I wanted to be. Slight difference.
post #8647 of 11163
Quote:
Originally Posted by Texasmade View Post


This guy is unemployed and might struggle to put food on the table. Your situation is I wasn't as rich as I wanted to be. Slight difference.


Fair enough.

 

My point is that goals are goals. They're personal. And each person's life circumstance is unique. Just because my goals may sound ridiculous to you don't make the pain I will feel for not meeting them any less valid. 

post #8648 of 11163
Quote:
Originally Posted by GreenFrog View Post


Fair enough.

My point is that goals are goals. They're personal. And each person's life circumstance is unique. Just because my goals may sound ridiculous to you don't make the pain I will feel for not meeting them any less valid. 

Not all goals are equivalent in nature. The goal of being the first person in your family to get a college education is not equivalent as being born on third base and wanting to be a millionaire at 30.
post #8649 of 11163
Quote:
Originally Posted by GreenFrog View Post


Fair enough.

My point is that goals are goals. They're personal. And each person's life circumstance is unique. Just because my goals may sound ridiculous to you don't make the pain I will feel for not meeting them any less valid. 

True. But you should look at this as an opportunity to buy and reach your wealth goals. From 2008-2010, I tried to put almost every single spare $ I had into stocks which ended up paying off very well from me. I looked at each major drop as an opportunity to accumulate wealth and assets.
post #8650 of 11163

 

Quote:

Originally Posted by Piobaire View Post


Not all goals are equivalent in nature. The goal of being the first person in your family to get a college education is not equivalent as being born on third base and wanting to be a millionaire at 30.

Maybe, but things are always hard to judge.​

 

I want my future kids to have their own rooms and go to a good school as well as be able to afford the small things in life I enjoy like clothes and tea.

 

In most of America that is a 300-400k goal. In NYC that probably a $5M+ goal if you still want to be able to have a retirement. Factor in someone might be a support structure for their family and those numbers only go up. Does it really matter that one of my two parents went to college? That we're immigrants?

 

We want what (think) makes us happy. In GF's case that may be self sufficiency from passive income by the time he is 30. Maybe I'll only be happy when I have a billion dollars and feel I can really help to shape the world. Why push someone down when those goals feel further away? Especially if they are reasonable.

 

Quote:
Originally Posted by Texasmade View Post


True. But you should look at this as an opportunity to buy and reach your wealth goals. From 2008-2010, I tried to put almost every single spare $ I had into stocks which ended up paying off very well from me. I looked at each major drop as an opportunity to accumulate wealth and assets.
That is a great attitude, but you also happened to be lucky enough to be doing so during an incredibly strong period of stock growth. It goes a bit into Chogall's point about your return being pre-determined.
post #8651 of 11163
GF your goal is counter-productive because it has given you this bizarre sense of entitlement to alpha. Your goal is more of a wish and your plan to achieve it is essentially through rank speculation. You may be maximizing the odds of hitting $1M in a few years but you are hurting your odds of hitting $5M in 10 years.

You think you are aggressive and want dat payoff from high risk investing but you have a heart attack every time he market loses 10 bps. If you are being honest with yourself you would realize your should be much more conservative. Or you should stop having conniptions here daily because you are comfortable that with risk comes weeks like this week.

I've said this before and wasn't going to say it again and it's really none of my business but it does feel like you are the only one in the room who doesn't know what you are doing.
post #8652 of 11163

I was a Sophomore in college back in 08 and I took a macroeconomic class. The professor for that class made it mandatory that students subscribe to the WSJ and I guess I was 'fortunate' enough to have subscribed to them during the great recession. Of course none of the shit I read back then had any implications for me so I didn't give two less shits about what was going on. Going back now, here are some interesting email alerts I received throughout the latter half of 2008 (most recent at top, so read from bottom if interested). Very interesting and amusing to read now.

 

 

"Jan. 28, 2009

The Federal Reserve, unable to lower rates further, said it is prepared to purchase long-term Treasurys in order to keep rates low. "The economy has weakened further," the Federal Open Market Committee said, adding that conditions "are likely to warrant exceptionally low levels" on fed funds "for some time."

The Fed kept its target on the federal-funds rate at a record-low range of 0% to 0.25%. Central bankers said they are committed to keeping rates at low levels for some time in order to combat a worsening recession and a deflationary spiral of falling employment and spending."

 

 

"Jan. 14, 2009

Apple CEO Steve Jobs announced that he is taking a medical leave of absence until June, saying his health issues are "more complex than I originally thought." Mr. Jobs said that Tim Cook will handle day-to-day operations."

 

 

"Dec. 29, 2008

The Nikkei closed up 1.3% to finish at 8859.56, booking its worst year ever with a loss of 42%. This follows an 11.1% decline for 2007. On a positive note, the index marked its first positive month since May.

More striking is the Nikkei's comedown from its heights two decades ago. In 1989, on the last trading day of that year, Tokyo's blue-chip index had
touched an all-time high of 38915.86."

 

 

"Dec. 11, 2008

Bernard L. Madoff, the 70-year-old founder of Bernard L. Madoff Investment Securities and a fixture of the Wall Street trading world for decades, was arrested by FBI agents and charged with criminal securities fraud by federal prosecutors in Manhattan. Prosecutors allege that Madoff told senior employees that his business was "a giant Ponzi scheme" involving tens of billions of dollars. The extent of investor losses, though, wasn't immediately clear."

 

 

"Dec. 1, 2008

Federal Reserve Chairman Ben Bernanke said further interest-rate cuts are "certainly feasible," but he warned there are limits to how much such action would revive an economy likely to stay weak well into next year.

Mr. Bernanke also said the Fed's powers don't end with the federal funds rate, and its ability to inject liquidity into markets through its balance sheets "remains effective.""

 

 

"Nov. 26, 2008

Sales of single-family homes decreased 5.3% to the lowest level in 17 years in October, while prices kept retreating. New-home sales in September, meanwhile, were revised to a 0.7% increase; originally, the government said September sales climbed 2.7%. The median price of a new home fell 7% to $218,000 in October, down from $234,300 in October 2007."

 

 

"Nov. 26, 2008

At least 78 people were killed and 200 more were injured in attacks in Mumbai, and gunmen were believed to be holed up in two of the most popular hotels for business travelers and tourists in India's commercial and financial capital.

TV reports said 15 foreigners had been taken hostage in the Taj Mahal Hotel. Three senior police officers, including the head of Maharashtra state's anti-terror squad, have been killed at the Taj Mahal Hotel. The Indian army also was reported to have surrounded the Oberoi Hotel, where hostages may also have been taken, and were firing on the hotel in an effort to flush out the attackers."

 

 

"Nov. 21, 2008

The Dow Jones Industrial Average surged 500 points amid reports that President-elect Barack Obama will name Timothy Geithner, the current head of the New York Fed and a prominent figure in the government's recent market interventions, as his Treasury secretary. The rally halted a sharp two-day plunge which had pushed stocks to their worst levels in 11 years. Unease about the financial sector lingered, however, as Citigroup shares plunged 20%."

 

 

"Nov. 19, 2008

The Federal Reserve sharply lowered its projection for economic activity this year and next, and signaled additional interest rate reductions may be needed to help combat the financial crisis, according to minutes from the October meeting."

 

 

"Nov. 17, 2008

Citigroup plans to announce job cuts of up to 50,000 through attrition and layoffs as Chief Executive Vikram Pandit addresses employees in a town hall-style meeting Monday morning. Citigroup's head count would be cut to 300,000 from about 350,000 at the end of the third quarter."

 

 

"Nov. 13, 2008

The number of U.S. workers filing new claims for state unemployment benefits unexpectedly soared past the half-million mark last week for the first time in over seven years. Initial claims for jobless benefits jumped 32,000 to a seasonally adjusted 516,000 in the week ended Nov. 8. The weekly data suggest further big drops in employment that threaten consumer spending ahead of the critical holiday spending season.

Separately, the U.S. deficit in international trade of goods and services for September shrank by 4.4% to $56.47 billion from August's revised $59.08 billion"

 

 

"Oct. 21, 2008

Apple reported a $1.14 billion profit as sales jumped 27% to $7.9 billion, as demand for the company's premium products held up amid the souring economy. CEO Steve Jobs said he was unsure "how this economic downturn will affect Apple" and the company gave a wide range of financial targets for the holiday quarter. In the September quarter, unit shipments of Macintosh computers rose 21%, while iPod unit shipments rose 8%. The company also shipped 6.9 million iPhones."

 

 

"Oct. 16, 2008

The Dow Jones Industrial Average surged 400 points, rebounding from a steep selloff in the previous session, as investors packed into defensive sectors of the market such as health care. Crude-oil prices tumbled on fears of a prolonged recession. The front month contract slid below $70 a barrel, falling by $4.69 per barrel, or 6.3%, to $69.85, the lowest settlement since August 23, 2007."

 

 

 

"Oct. 15, 2008

The Dow Jones Industrial Average dropped 730 points, ending near the session's low point as fears of a prolonged recession began to set in with investors. Crude-oil futures dropped $4.09, or 5.2%, to $74.54 a barrel, the lowest settlement so far this year. Credit conditions also remained turbulent. Treasurys bills and other shorter-term government debt rose and risk premiums on agency debt were sharply higher."

 

 

"Oct. 14, 2008

Tokyo investors swarmed back into the market Tuesday, sending shares 13% higher and well on their way to what could be the biggest-ever one-day gain in the Nikkei benchmark index, as the sharp rebound on Wall Street yanked the market out of last week's doldrums following a public holiday Monday.

The Nikkei 225-stock average rose 1079.13 points, or 13%, to 9355.56 at the midday break. About 1.1 billion shares were traded on the Tokyo Stock Exchange First Section in a buoyant session blighted only by the scale of buy orders that left many issues frozen for the first 40 minutes of the day."

 

 

"Oct. 9, 2008

The Dow Jones Industrial Average plunged during the final hour of trading and ended down 680 points. The blue-chip measure has fallen 39% from the all-time high hit one year ago today. Selling intensified late in the day after Standard & Poor's said that it had placed GM's credit ratings on watch negative. Shares of the auto maker ended down by 31%. Energy and financial stocks also booked deep losses. Morgan Stanley dropped by 26%. Exxon Mobil shares fell 12% after crude-oil futures settled at the lowest point this year. The Chicago Board Options Exchange Volatility Index surged 11% to 63.57."

post #8653 of 11163
Quote:
Originally Posted by UnFacconable View Post

GF your goal is counter-productive because it has given you this bizarre sense of entitlement to alpha. Your goal is more of a wish and your plan to achieve it is essentially through rank speculation. You may be maximizing the odds of hitting $1M in a few years but you are hurting your odds of hitting $5M in 10 years.

You think you are aggressive and want dat payoff from high risk investing but you have a heart attack every time he market loses 10 bps. If you are being honest with yourself you would realize your should be much more conservative. Or you should stop having conniptions here daily because you are comfortable that with risk comes weeks like this week.

I've said this before and wasn't going to say it again and it's really none of my business but it does feel like you are the only one in the room who doesn't know what you are doing.


I would not read too much into the stupid shit I poast when I'm watching shit tank, live, throughout the day. I only post here a lot with that stuff because, like i said earlier, I don't have other people to just "vent" to re: wild market shit like this, man. I find it therapeutic to commiserate and post.

 

I'm not panic selling or anything.

 

Let a ninja vent!

 

And besides, does anyone really know what they're doing? Are you a better investor than I am? How would we even measure that? What constitutes "knowing what you're doing?"

post #8654 of 11163
Quote:
Originally Posted by GreenFrog View Post


How are my woes any different from that of a person lamenting disruption in career path goals due to their company unexpectedly going under?

ehh. just struck me as kind of an odd comment.
do you think you would get sympathy from many people out there because you might not end up as rich as you hoped to be?
post #8655 of 11163
I started working in Q3 2006 and started investing in 2007. I lost a few $k's in 2007 and 2008 with investments in Lehman Bros, Bank of America, and some sub prime mortgage servicers. At the time, I was only making about 40% of what my current salary is today. Surviving 3 rounds of lay offs allowed me to start investing again in Q3 2008 to take advantage of the drop in prices.

I'll admit that it wasn't the fact that I'm some super smart stock picker but rather dumb luck and timing that I was able to make out like a bandit. Since then, I've always tried to put a $ in whenever there's a huge drop like today.
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