Anyone viewing the current bloodbath in the global markets?

Originally Posted by finnns2003

People's 401k's are going to go to swiss cheese again, when will people learn...
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I would be interested in picking your brain in regards to my options. 

  
 
Let's not get ahead of ourselves...

The US government won't go bankrupt. China won't sell its Treasuries (who would buy them?). The world's Asian epicenter of economic growth won't roll over and die. Italy's $1.4 trillion debt might be restructured, Europe's banks might go under the auction hammer, and today's Europeans might postpone their retirement for 10 or 15 years - but that won't change the grand scheme of the world economy. If Italy were the problem, we wouldn't see the sharp rise in the euro that occurred in early Asian trading. 

The bubble that has popped here is not American government debt, but the overstretched and overpromised hedge fund industry. It's impossible to tell how long the liquidation will continue. But the stock market today does not run off fumes as in the dot-com days of the 1990s, nor off the phony profits of ultra-levered financial companies as in the 2000s. Corporate America is flush with cash, financially sound, and making better money than ever before. 

For that reason, I consider this a liquidity event like 1987 rather than a true crisis like 2008 (with a $6 trillion shock to household balance sheets and the evaporation of bank equity). It's not the end of the world. It's just the end of the hedge fund industry. 
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http://www.atimes.com/atimes/Global_Economy/MH09Dj02.html
 
Originally Posted by Scott Frost

Originally Posted by finnns2003

People's 401k's are going to go to swiss cheese again, when will people learn...
Click to expand...
I would be interested in picking your brain in regards to my options. 

  
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pm if you want

That's a very "half glass full" article up there, sunshine and rainbows
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I really doubt this well be the end if the hedge fund industry, where are the super rich going to invest their money? I think it is going to be more of a trimming the fat off the industry. The bad hedge funds will see the clients withdraw their money and go belly up.
 
I've been looking for a job for 3 months since I graduated college in May. Doesn't look like the job search is about to get any easier
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What do guys recommend in terms of how to handle my 401k right now? As of now we have some ****** at Wells Fargo playing with our money. My company matches 50%.
 
Originally Posted by solesavage

What do guys recommend in terms of how to handle my 401k right now? As of now we have some ****** at Wells Fargo playing with our money. My company matches 50%.
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401k = Retirement money so when are we all retiring? 30 years? 40 years? 50 years?  Imagine all the wars and financial meltdowns that will occur within that time frame?  Bottom line if you're not retiring anytime soon you shouldn't do much and just ride it out.  Personally during these times, I BUMP up my deferral percentage because now is the time to buy.
 
i been telling yall since 08 to hop on gold but everyone laughed
gold might touch 2000 but it'll correct hard if it does... 
 
Originally Posted by SunDOOBIE

Originally Posted by solesavage

What do guys recommend in terms of how to handle my 401k right now? As of now we have some ****** at Wells Fargo playing with our money. My company matches 50%.
Click to expand...

401k = Retirement money so when are we all retiring? 30 years? 40 years? 50 years?  Imagine all the wars and financial meltdowns that will occur within that time frame?  Bottom line if you're not retiring anytime soon you shouldn't do much and just ride it out.  Personally during these times, I BUMP up my deferral percentage because now is the time to buy.
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 Why buy now when he can wait and buy in at Dow 10,000 or under if he's patient. 

See if your 401k offers the guaranteed 5% annuities.  Put your money in that or you can stay in cash until things clear up.  When the job market picks up, 200,000 jobs a month, then you buy stocks.  Until then, stay out of stocks. 
 
I feel bad for people in the business field, working for firms, banks, etc. Are MBA's having problems finding jobs? I'm applying for Physical Therapy School this year and I see why the medical field is the way to go.
 
Originally Posted by cguy610

Originally Posted by SunDOOBIE

Originally Posted by solesavage

What do guys recommend in terms of how to handle my 401k right now? As of now we have some ****** at Wells Fargo playing with our money. My company matches 50%.
Click to expand...

401k = Retirement money so when are we all retiring? 30 years? 40 years? 50 years?  Imagine all the wars and financial meltdowns that will occur within that time frame?  Bottom line if you're not retiring anytime soon you shouldn't do much and just ride it out.  Personally during these times, I BUMP up my deferral percentage because now is the time to buy.
Click to expand...
 Why buy now when he can wait and buy in at Dow 10,000 or under if he's patient. 

See if your 401k offers the guaranteed 5% annuities.  Put your money in that or you can stay in cash until things clear up.  When the job market picks up, 200,000 jobs a month, then you buy stocks.  Until then, stay out of stocks. 
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Well if you know for certain the DOW will be below 10,000 can you tell me who wins the Super Bowl in 2012?  
When the market picks up 200,000 jobs... you and everyone and their mama's will be buying stocks. 

And all this talk about Gold is 
eyes.gif
.  Sure the gains are great now but it's just another bubble that will surely burst sometime soon.  Plus GOLD doesn't provide me income or annual earnings so I am cool investing on em. 
 
Originally Posted by SunDOOBIE

Originally Posted by solesavage

What do guys recommend in terms of how to handle my 401k right now? As of now we have some ****** at Wells Fargo playing with our money. My company matches 50%.
Click to expand...

401k = Retirement money so when are we all retiring? 30 years? 40 years? 50 years?  Imagine all the wars and financial meltdowns that will occur within that time frame?  Bottom line if you're not retiring anytime soon you shouldn't do much and just ride it out.  Personally during these times, I BUMP up my deferral percentage because now is the time to buy.
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QFT , comment is on point
 
Originally Posted by SunDOOBIE

Originally Posted by cguy610

Originally Posted by SunDOOBIE


401k = Retirement money so when are we all retiring? 30 years? 40 years? 50 years?  Imagine all the wars and financial meltdowns that will occur within that time frame?  Bottom line if you're not retiring anytime soon you shouldn't do much and just ride it out.  Personally during these times, I BUMP up my deferral percentage because now is the time to buy.
Click to expand...
 Why buy now when he can wait and buy in at Dow 10,000 or under if he's patient. 

See if your 401k offers the guaranteed 5% annuities.  Put your money in that or you can stay in cash until things clear up.  When the job market picks up, 200,000 jobs a month, then you buy stocks.  Until then, stay out of stocks. 
Click to expand...
Well if you know for certain the DOW will be below 10,000 can you tell me who wins the Super Bowl in 2012?  
When the market picks up 200,000 jobs... you and everyone and their mama's will be buying stocks. 

And all this talk about Gold is 
eyes.gif
.  Sure the gains are great now but it's just another bubble that will surely burst sometime soon.  Plus GOLD doesn't provide me income or annual earnings so I am cool investing on em. 
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I was 100% in stock until 2 months ago when the jobs report was only 33,000 jobs for May.  Then I sold the majority of my stocks except conservative ones that I didn't want to pay taxes on.  So I had an entire 2 months before this mess hit.  I missed about 400 points upside on the Dow when it went to 12,700 or so. 

You do you and I'll do me. You can manage your money whatever way you want and hold all your stocks and ride the market all the way down if you want. 
 
So, are they going to lower gasoline prices or do we have to wait until oil goes down to $30/barrel to get some relief?
 
Originally Posted by cguy610

So, are they going to lower gasoline prices or do we have to wait until oil goes down to $30/barrel to get some relief?
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Gas should be under $3 here in MA in a few weeks.    
 
Originally Posted by Scott Frost

Originally Posted by cguy610

So, are they going to lower gasoline prices or do we have to wait until oil goes down to $30/barrel to get some relief?
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Gas should be under $3 here in MA in a few weeks.    
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Don't you just love how when the price of oil goes up; it's immediately reflected in the price of gas even though the oil used in the gas at the pump wasn't bought at that price, but when the price of oil drops they wait a little bit before they drop the price?
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