Charlie D.
Gonzales, La.
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Joined: 09/12/2006
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D & M wrote:Aridon wrote:We are at the bottom or very close to it as of today. Many won't believe that but I don't believe we will go much lower than we are right now. We've been mostly in cash for almost a year and a half now, its time to start cherry picking some buys.
Exactly!
The problem with holding cash is that cash don't rally.
With cash, the only way to double your money is to fold it and put it back in your pocket
With cash, you lose to inflation. Those still in the market have seen 20-40% loses in just a few weeks. Too late to get out at this time? Probably. I got out when 3 years of returns went to zero. Saw a report last night that said it took 29 years for the market to return to pre-depression levels.
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trkrhelp
On The Road
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About.com wrote:The Dow did not return to pre-1929 levels until late 1954,[16] and was lower at its July 8, 1932 level than it had been since the 1800s.[17]
I doubt I'm going to care in 25 years what the market is worth
I'd liken the difference between cash and stocks to cutting your finger and slitting your throat - inflation may over the years decrease the value of your cash but with stocks you can lose it all in a few minutes The more you stand to gain the more you stand to lose.
Personally I leave the stocks to the experts - I put mine into a guaranteed annuity. It's insurance, not investment, and backed by a cash reserve that guarantees the benefit even if the company goes belly up. They put the money into funds (stocks) and in theory they make money off it - but whether they win or lose I get my check every month and if they win my check get's bigger over time 
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beemerphile1
NE Ohio
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FWIW
The DJIA (Dow) hit a record high of 14,164 on 10-9-2007
Exactly one year later the DJIA closed at 8,579 on 10-9-2008
OUCH!
After saying that, keep in mind that Mr. Market operates purely on emotion. It really is only a measure of what investors think is going to happen. If Mr. Market is correct in what he thinks will happen, we're in deep doo doo.
There is a side benefit, gas prices. I just filled up today at $2.77 per gallon for regular. Yes, that is a two! With the world wide economy swirling toward the drain, the oil prices are falling fast. Another emotional indicator that tough times are ahead. The speculators in oil futures are heading for the hills expecting demand to fall sharply when the economy tanks.
Tim
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lwmuddy
Murrells Inlet, SC
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Who would have thought of this as a way to drop gas prices?
Bankrupt a country and pay less for gas.
Now it will cost us less to drive to the Government food bank and cross our fingers that they still have some toilet paper left from the last shipment.
Somebody is going to pay dearly for all this and I'm afraid it is US.
Maybe the oil companies can loan us some money and we'll just pay it back every time we fuel up.
Have you noticed that the oil industry news is strangely quiet? Hummmmmmmm.
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John&Joey
Northern MN
(Baby it's cold outside)
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Joined: 05/20/2007
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2Rovers wrote:Sea Dog wrote:Times have changed!
During the depression, my wifes grandfather, who was wealthy for the times, held mortgages on several local farms, of course they all fell into arrears.
He did not forclose or ask for payments for five years.
Slowly, mostly because of WW11, the economy improved and the farmers could again make their payments.
When he, the grandfather died in the early fifties, his funeral was the largest ever seen in those parts.
I wonder how many investors would do that to-day?
Your wife's Grandfather was a commendable person! You wonder how many investors would do that today. NONE. I wonder how many individuals would do that. Probably none again.
I am sure you are very proud of your wife's Grandfather.
Thought this was worth repeating. A few greedy people somehow stole this basic concept away from this land.
I guess the question is "how much is enough." The grandfather knew.
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Trish Davis
eastern Ohio
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Joined: 08/04/2007
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Regarding pickup trucks. Huh.
My Ford is 22.. no, wait, it's 23 now with the '09 models out.
My Chevy is 25. Chevy is the "dress truck." Has 39,000 miles. Original paint & interior, never seen snow, all that.
Both nicely paid for (cash up front) and the Ford is dirt cheap to insure --$88 every 6 mos through Nationwide. I figure to drive it another 5 years, then start looking for another old F-150 to own and insure for da*n little.
Cheap is good.
It's stingy and greedy (two sides of the same coin really) got us in this stupid mess.
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rcchallenger
La Mirada, California
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Sea Dog wrote:Times have changed!
During the depression, my wifes grandfather, who was wealthy for the times, held mortgages on several local farms, of course they all fell into arrears.
He did not forclose or ask for payments for five years.
Slowly, mostly because of WW11, the economy improved and the farmers could again make their payments.
When he, the grandfather died in the early fifties, his funeral was the largest ever seen in those parts.
I wonder how many investors would do that to-day?
The grandfather was the type of person we all should strive to be like. Too many people put money and posessions ahead of compassion for their fellow man. I hope people read this and remember what it means to care about one's family, friends and neighbors. At the day of our funerals, we won't be taking one thing from this earth with us. It's what you leave behind that is important. I would rather be remembered for acts of kindness than the size of my bank account.
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rcchallenger
La Mirada, California
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Skid Row Joe wrote:rcchallenger wrote: I would rather be remembered for acts of kindness than the size of my bank account. ....I'd rather be remembered by not owing everybody when I met my demise........ he he 
Interesting comments... But to each his own. Good luck to you in whatever way you may choose to live out your life on this earth. My sincerest hope is that you will be remembered for more than a lack of debt.
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Skid Row Joe
On the road in America
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Joined: 04/26/2006
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Aridon wrote:We are at the bottom or very close to it as of today.
We're not even close. Until the last remnants of greedy neo-capitalists I'm reading about are still vested and not driven out of stocks, we ain't there. Give it a while.
I have a sweet tender nature, however I enjoy sharing my thoughts and opinions.
Fulltiming RVer & homeowner.
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Cloud Dancer
San Antonio and Livingston TX USA
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I just hope that the local tax agency will be remembered for the act of kindness which I expect they will extend to me, in the form of suspending my property taxes.
What I mean is that if we go into 'the Great Depression', I probably will not be able to afford the property taxes, unless they adjust them on the basis of the realistic market value.
Do the tax agencies end up with thousands of forfeited properties, in event of a depression? How does that work? If you own your house(no mortgage), but can't pay the taxes, at the time when people have no money, do people get kicked out, and the houses go to ruin for lack of buyers?
Will I have to take the motorhome and become a 'road warrior'?
Will we live in 'shanty towns'? In Quartzite? What?
Did you noticed how I tied this post to general RVing? (not meant as a joke).
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